Punjab Revenue Collection Hits Record High, Crosses Rs 30,000 Crore Mark: Finance Minister Harpal Singh Cheema
In a significant milestone, Punjab's revenue collection has surpassed the Rs 30,000-crore mark for the first time, announced State Finance Minister Harpal Singh Cheema on Thursday. This achievement is a testament to the state's strong economic growth, driven by robust collections from Value Added Tax (VAT), Central Sales Tax (CST), Goods and Services Tax (GST), and State Development Tax (PSDT). The state's fiscal performance has shown remarkable improvement, with tax revenues exceeding expectations. This surge in revenue collection is expected to boost the state's development initiatives and allocation of funds for various sectors, including infrastructure, education, and healthcare. With a focus on efficient tax administration and compliance, Punjab is poised to maintain its growth momentum, fostering a business-friendly environment and attracting investments. As the state continues to make strides in revenue collection, it is likely to have a positive impact on the overall economy, including GST collection and tax revenue growth.
