Chandigarh, March 22<\/p>\n\n\n\n
Attributing remarkable milestone in the state’s excise revenue growth to the success of the Excise Policies implemented since the Aam Admi Party (AAP) led Punjab Government assumed office in 2022, Punjab Finance, Planning, Excise and Taxation Minister Advocate Harpal Singh Cheema on Saturday announced that state’s excise revenue has seen an unprecedented cumulative growth over the past three years, rising from \u20b96254 crores to over \u20b910200 crores. He said that for the first time in Punjab’s history, the excise revenue would surpass the five-digit mark, with the target of \u20b910145 crores for the financial year 2024-25 likely to be exceeded.<\/p>\n\n\n\n
Addressing a press conference here at Punjab Bhawan, the Finance Minister Harpal Singh Cheema lauded the Excise department’s achievements, stating that the success of the tendering process has set the stage for a fourth consecutive year of remarkable growth for the Punjab Excise Department. He said that the Excise Department has received overwhelming response in its ongoing e-tender process for the allotment of retail liquor licenses for the fiscal year 2025-26. He revealed that the department had set a reserve price of \u20b99017 crores for 207 Retail Liquor Groups. As of March 20, 179 of these groups, accounting for 87% of the total, have been successfully allotted, fetching a discovered price of \u20b98681 crores along with an additional \u20b9871 crores as premium against reserved price of Rs 7810 crore.<\/p>\n\n\n\n
The Finance Minister expressed confidence in achieving the ambitious target of \u20b911020 crores for the upcoming fiscal year 2025-26. He said that the tremendous response to the e-tendering process suggests that the department is likely to surpass this target, potentially reaching approximately \u20b911800 crores, which would represent a 16% increase over the previous year’s excise revenue.<\/p>\n\n\n\n
Minister Cheema also took the opportunity to criticize the previous governments led by the SAD-BJP alliance and the Congress for their failure to boost excise revenue. He said that during the Congress regime from 2002 to 2007, excise revenue declined by 6.9%, falling from \u20b91462 crores in 2002 to \u20b91363 crores in 2007. He further highlighted that during the decade-long SAD-BJP rule, the term “mafia” became synonymous with governance, and excise revenue dropped from \u20b94796 crores in 2015-16 to \u20b94400 crores in 2016-17 due to an Excise Policy designed to benefit cronies. He further added that the Congress regime from 2017 to 2022 followed a similar trajectory, with excise revenue stagnating for first three years of regime and reached at just \u20b96200 crores by FY 2021-22. He also recalled the tragic hooch incident during the Congress tenure, which claimed the lives of 128 economically disadvantaged individuals.<\/p>\n\n\n\n
Concluding the press conference by reaffirming the Chief Minister Bhagwant Singh Mann led Punjab Government’s commitment to transparency, efficiency, and progressive policies, Finance Minister Harpal Singh Cheema said that this growth in excise revenue is a testament to the success of the excise policies which have been instrumental in driving the state’s excise revenue to unprecedented heights. He said that the AAP led Punjab government is committed to increase the state revenue to ensure its financial stability besides using this revenue for the betterment of every section of society.<\/p>\n","protected":false},"excerpt":{"rendered":"
Chandigarh, March 22 Attributing remarkable milestone in the state’s excise revenue growth to the success of the Excise Policies implemented since the Aam Admi Party (AAP) led Punjab Government assumed office in 2022, Punjab Finance, Planning, Excise and Taxation Minister Advocate Harpal Singh Cheema on Saturday announced that state’s excise revenue has seen an […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"footnotes":"","_jetpack_memberships_contains_paid_content":false,"jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[87,91],"tags":[],"jetpack_publicize_connections":[],"yoast_head":"\n