Punjab Reports Revenue Growth and Reduced Debt-to-GSDP Ratio Under AAP Government

Punjab's Aam Aadmi Party government has reported significant fiscal improvements over four years, with own tax revenue rising from Rs 37,327 crore in 2021-22 to Rs 57,919 crore in 2024-25, representing 7.15% of GSDP. Excise revenue increased by 86.77%, surpassing previous regimes, while GST collections reached Rs 83,739 crore, exceeding prior five-year totals. The debt-to-GSDP ratio declined from 48.25% to 44.47%, despite servicing a Rs 3 lakh crore legacy debt. Finance Minister Harpal Singh Cheema attributed these gains to structural reforms and fiscal discipline, countering opposition criticism by highlighting inherited financial challenges.