Punjab Finance Minister Harpal Cheema made headlines Tuesday by positioning his state in the elite top three for revenue growth nationwide. Speaking in Chandigarh, he attributed this feat to the AAP government’s strategic overhauls in fiscal policy, disciplined budgeting, and openness in administration during the last four years.
With charts and figures in hand, Cheema demonstrated a financial renaissance. Own tax receipts escalated from ₹37,327 crore in 2021-22 (6.39% GSDP) to ₹57,919 crore in 2024-25 (7.15% GSDP).
The excise department’s turnaround was particularly noteworthy, achieving 86.77% growth in record time. Against predecessors’ benchmarks—SAD-BJP’s ₹4,109 crore yearly average and Congress’s ₹5,479 crore—AAP delivered ₹9,907 crore annually, amassing ₹37,975 crore by early 2026.
Excise is forecasted at ₹11,500 crore for 2025-26, its GSDP contribution climbing from 1.05% to 1.28%.
GST success mirrored this trend. Congress collected ₹61,286 crore over five years (₹12,257 crore average), leaning heavily on central aid. AAP’s aggressive reforms yielded ₹83,739 crore (₹21,845 crore average) by January 2026.
This robust performance signals Punjab’s economic resilience. Cheema vowed to channel these gains into citizen-centric initiatives, solidifying AAP’s governance model as a blueprint for fiscal excellence.