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Finance Minister Harpal Cheema says that we have increased the income by removing obstacles in tax collection. This increase in the income of the Punjab government has happened when the central government has withheld many funds of Punjab and has also reduced the borrowing limit of the state by 18000 crore rupees. The earlier borrowing limit for Punjab was Rs 45730 crore.
Most of the gains have been in revenue from excise. In 2022, where the income was Rs 1517.85 crore, this time it has increased by 55.65 percent to Rs 2362.53 crore. A 20 percent increase in GST receipts has also been recorded in the state. Compared to last year’s 4050.62 crore, this time the income is Rs 5053.62 crore, which is Rs 10003 crore more.
The finance minister said that in the same way, an increase in VAT income has also been recorded. As compared to last year’s Rs 1731.93 crore, the income has been Rs 1737.93 crore. Only Central Sales Tax (CST) has recorded a decline of Rs 9.53 crore. While this income was 55.7 percent last year, it has reduced to Rs 50.39 crore.
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