Punjab records 23% growth in GST collection: Cheema

In his tweet, the minister stated that the measures taken by the Punjab government, led by Chief Minister Bhagwant Mann, have been fruitful in plugging leakages and the increase in revenue has been clearly reflecting in the results.

Punjab Finance Minister Harpal Singh Cheema (File)

Punjab Finance Minister Harpal Singh Cheema on Thursday said that the state has registered a growth of 23 per cent in GST revenue during the current fiscal year as compared to the first five months of financial year 2021-22.

In his tweet, the minister stated that the measures taken by the Punjab government, led by Chief Minister Bhagwant Mann, have been fruitful in plugging leakages and the increase in revenue has been clearly reflecting in the results.
The minister also shared the figures for the state-wise growth of GST revenue during the month of August 2022.

Punjab registered a 17 per cent growth of GST revenue during August and remained ahead of the large states like Uttar Pradesh, Madhya Pradesh, Gujarat and Rajasthan.

Meanwhile, reiterating the commitment to put the state on a rapid growth rate track to meet the targets fixed in Budget for FY 2022-23, Cheema said that the state government has been putting in every effort to increase the revenue of the state whereas the previous Congress government failed to make such efforts and remained dependent merely on the GST compensation being provided by the Centre.

The government is, however, eagerly awaiting a reply from the Centre on the issue of GST compensation that has come to an end in June this year. The state government has written to the Centre that Punjab was short of funds and the compensation should continue.

The state will lose Rs 16,000 crore every year if the GST compensation regime comes to an end.

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