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Punjab Budget: ‘Check tax evasion to mop up funds’

The budget has pegged the total receipts at Rs 151129 crore.

Punjab Finance Minister Harpal Singh Cheema presents the state budget.

By checking evasion of tax, the Punjab government plans to make Rs 45,588 crore from state’s own tax revenue. This is at least Rs 8,000 crore more than the estimates in the last budget.

The budget has pegged the total receipts at Rs 151129 crore.

“We will check evasion. We would not allow any pilferage of revenue. We want to make sure that we make enough for the exchequer so that all our promises are fulfilled,” said finance minister Harpal Cheema while responding to a question as to how the state would mop up resources even as it has not levied any new taxes.

Punjab expects Rs 20,550 crore from GST, Rs 6250 crore from VAT and Rs 9647 crore from the excise. “We can foresee an increase in the revenue from GST and VAT. We will exercise fiscal prudence,” he said. “You can see our intent. We are targeting revenue of over Rs 9,000 crore from liquor. This is a record increase of 57 per cent,” he said.

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First published on: 28-06-2022 at 09:34:33 am
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