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Hindustan Times
a day ago
- Business
- Hindustan Times
Punjab GST collections see record 44% jump in June
Punjab registered a record 44% year-on-year growth in net goods and services tax (GST) collection for June 2025 and 27.01% growth for the first quarter of the 2025-26 financial year, said finance and taxation minister Harpal Singh Cheema on Tuesday. Harpal Singh Cheema. Addressing a press conference here, Cheema said that the net GST collection for June 2025 stood at ₹ 2,379.90 crore, reflecting a revenue growth of ₹ 732.21 crore over the ₹ 1,647.69 crore collected in June 2024. 'This follows monthly net growth trends of 15.35% in April and 24.59% in May. During the first quarter, the collection reached ₹ 6,830.40 crore, even amidst the conflict between India and Pakistan in May 2025, compared to ₹ 5,377.75 crore during the corresponding period of 2024-25,' he said, after facilitating the top five taxpayers of the state, including Ambuja Cement, HPCL-Mittal Energy Limited (HMEL), Samsung India Pvt Ltd, Tata Steel and Dada Motors. Launching a scathing attack on the previous SAD-BJP and Congress-led governments, Cheema claimed that while they failed to check tax evasion and improve the state's fiscal health, the AAP government has ensured consistent month-on-month and year-on-year growth. He said the present government registered a GST collection growth rate of 16.25% in FY 2022-23, 15.51% in FY 2023-24, and 12.84% in FY 2024-25, with a total collection of ₹ 62,733 crore in three years. He said that during the Congress regime from 2018-19 to 2021-22, the state merely collected ₹ 55,146 crore. On the recent enforcement activities, Cheema stated that the state intelligence and preventive unit (SIPU) had uncovered a GST fraud syndicate run by an accountant who created and operated 20 fake firms for bogus billing and ITC fraud. Replying to a question, he also stated that the state government recently invested ₹ 1,000 crore each in the guarantee redemption fund (GRF) and consolidated sinking fund (CSF), with the latter now exceeding ₹ 10,000 crore.
Time of India
a day ago
- Business
- Time of India
Cheema defends Punjab's Rs 8,500cr loan plan, cites legacy debt & RBI limits
1 2 Chandigarh: Reacting to criticism of the AAP govt by the opposition for its plans to raise a loan of Rs 8,500 crore in the second quarter from July to September, finance minister Harpal Singh Cheema on Tuesday said that the state govt planned to borrow funds to meet the redemption obligations of over Rs 3,500 crore for legacy debt. He added that the loan was within the borrowing limits sanctioned by the Reserve Bank of India (RBI) and the projections made in the state budget 2025-26. "The opposition party leaders don't understand economics. Even their household budgets are made by their wives. From the US to our neighbouring Haryana, state economies borrow funds. However, it is being done within the prescribed limits and continuous attempts are being made to bring down the outstanding debt. The RBI has now allowed us to raise loans over the next three months," said Cheema, on the sidelines of a press conference on growth in goods and sales tax (GST) collections. "I had given the quarterly projections of the state's borrowings in the budget presented in March. The entire details were shared in the vidhan sabha. The AAP govt has improved its financial health and that is why the RBI has been approving the borrowing limits well in advance," he added. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Here's The Average Price of a 6-Hour Gutter Guards Upgrade Read More Undo The market borrowings to be undertaken by the state govt have been approved by the RBI. The cash-strapped govt would raise a loan of Rs 2,000 crore in July, Rs 3,000 crore in Aug, and Rs 3,500 crore in Sept. Replying to a media query, Cheema said that the state has to make interest payments of Rs 25,000 crore and principal payments of Rs 18,200 crore on legacy debt availed by the previous SAD-BJP and Congress regimes in FY 2025-26, while planning to borrow Rs 49,900 crore, despite Rs 13,000 crore in deductions by the Centre. He added that the state govt planned to borrow Rs 8,500 crore to meet the redemption obligations of over Rs 3,500 crore for legacy debt in the second quarter of the current financial year alone. "Punjab's fiscal management is on a strong footing, with the state govt taking proactive steps to manage its debt obligations. He highlighted that the Punjab govt recently invested Rs 1,000 crore each in the guarantee redemption fund (GRF) and consolidated sinking fund (CSF), with the latter now exceeding Rs 10,000 crore, a significant increase from Rs 3,000 crore when the current government took office," he added. MSID:: 122185715 413 | Get the latest lifestyle updates on Times of India, along with Doctor's Day 2025 , messages and quotes!
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Business Standard
2 days ago
- Business
- Business Standard
Punjab registers record 44% growth in net GST collections in June
The net GST collection last month stood at Rs 2,379.90 crore, reflecting a revenue growth of Rs 732.21 crore over the Rs 1,647.69 crore collected in June 2024 Press Trust of India Chandigarh Punjab registered a record 44.44 per cent growth in net goods and services tax collections at Rs 2,379.90 crore in June 2025, said Finance Minister Harpal Singh Cheema on Tuesday. Addressing the media here, Cheema said Punjab outpaced the national average in GST collection growth, firmly positioning itself among the top-performing states in tax mobilization despite facing national and geopolitical challenges, including border-related tensions. The net GST collection last month stood at Rs 2,379.90 crore, reflecting a revenue growth of Rs 732.21 crore over the Rs 1,647.69 crore collected in June 2024. This follows the monthly net growth trends of 15.35 per cent in April and 24.59 per cent in May. The net GST collection during the first quarter of 2025-26 reached Rs 6,830.40 crore, even amidst the military conflict between India and Pakistan in May, compared to Rs 5,377.75 crore in the first quarter of 2024-25. This represents a growth rate more than four times the 6.41 per cent growth rate registered during the first quarter of 2024-25. Cheema was accompanied by Secretary (Taxation) Ajit Balaji Joshi and Excise and Taxation Commissioner Jitendra Jorwal. On this occasion, Cheema facilitated top five taxpayers of the state for their contribution to the state's economic growth. Cheema also hit out at the previous SAD-BJP and Congress-led governments, citing their "failure" to check tax evasion and improve the state's fiscal health. He asserted that the Bhagwant Singh Mann-led government has ensured consistent month-on-month and year-on-year growth. He noted a GST collection growth rate of 16.25 per cent in 2022-23, 15.51 per cent in 2023-24, and 12.84 per cent in 2024-25, registering a total collection of Rs 62,733 crore in three years. In contrast, during the Congress regime from 2018-19 to 2021-22, the state merely collected Rs 55,146 crore. Similarly, during the SAD-BJP regime, the state witnessed only 4.57 per cent and 2.67 per cent growth in tax collections during 2014-15 and 2015-16, respectively. "The AAP government has already collected more in three years than the Congress government collected in its entire five years," said Cheema. The finance minister further stated that the previous Congress-led state government heavily relied on compensation amounting to Rs 30,070 crore without any future plan for state revenues. "On the contrary, we enhanced field enforcement, targeted data-driven inspections, and improved taxpayer compliance to reduce tax evasion and safeguard the state's financial stability," he added. Revealing details of recent enforcement activities, the minister highlighted that the State Intelligence and Preventive Unit (SIPU) uncovered a GST fraud syndicate run by an accountant who created and operated 20 fake firms for bogus billing and ITC fraud. Preliminary investigations uncovered fraudulent transactions amounting to Rs 866.67 crore, leading to a tax evasion of Rs 157.22 crore. Additionally, the department uncovered a massive GST evasion involving a Chandigarh-based firm registered as a transporter for its involvement in bogus e-way bill generation and transportation of unaccounted goods amounting to Rs 168 crore, involving a cumulative tax liability of Rs 30.66 crore. Replying to a query on taking more debt, the finance minister said the state has to make an interest payments of Rs 25,000 crore and principal payments of Rs 18,200 crore on legacy debt, availed by the previous SAD-BJP and Congress led state governments, in 2025-26, while planning to borrow Rs 49,900 crore, despite Rs 13,000 crore in deductions by the Government of India. He stated that the state government plans to borrow Rs 8,500 crore to meet the redemption obligations of over Rs 3,500 crore for legacy debt in the second quarter of the current financial year alone. Cheema said Punjab's fiscal management is on a strong footing, with the state government taking proactive steps to manage its debt obligations. He highlighted that the Punjab government recently invested Rs 1,000 crore each in the Guarantee Redemption Fund (GRF) and Consolidated Sinking Fund (CSF), with the latter now exceeding Rs 10,000 crore, a significant increase from Rs 3,000 crore when the current government took office. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Hindustan Times
2 days ago
- Health
- Hindustan Times
Chandigarh: Docs end protest after stipend hike, bond review assurance
Resident doctors and MBBS interns across Punjab called off their strike on Monday following assurances from finance minister Harpal Singh Cheema and health and family welfare minister Dr Balbir Singh. The decision came after a two-hour meeting with representatives of the Forum of Resident Doctors of Punjab in Chandigarh. Resident doctors and MBBS interns protest for demands at Guru Nanak Dev Hospital in Amritsar on Monday. (Sameer Sehgal/ht) During the meeting, the ministers agreed to the protesting doctors' key demands, including a hike in intern stipends, which led to the decision to end the strike. Additional chief secretary (finance) Alok Shekhar and principal secretary (health) Kumar Rahul were also present. As per the new agreement, the monthly stipend for MBBS interns has been increased from ₹ 15,000 to ₹ 22,000. Confirming the development, the health minister posted on social media platform X: 'The Punjab government has hiked intern stipends from ₹ 15,000 to ₹ 22,000 per month. This move ensures our healthcare services continue uninterrupted and stronger than ever.' The ministers also assured the formation of a committee to review the contentious ₹ 20 lakh service bond policy and recent fee hikes for MBBS students. The policy, introduced last week, mandates that MBBS and BDS students in government colleges sign a bond worth ₹ 20 lakh — meant to ensure service in Punjab's healthcare system after graduation. While the government defended the policy as a step to address the acute shortage of doctors in the state, medical students argued it placed an unreasonable financial burden on aspiring doctors, making medical education unaffordable for many. On Sunday, doctors and interns from government medical colleges across Punjab had threatened a complete shutdown of outpatient department (OPD) services from Monday in protest. The strike had sparked concern over the disruption of healthcare services, particularly in rural and underserved regions.
Hindustan Times
25-06-2025
- Business
- Hindustan Times
Cheema conducts surprise checking of excise & taxation dept head office in Patiala
Jun 25, 2025 05:52 AM IST The finance minister, Punjab, Harpal Singh Cheema on Tuesday conducted a surprise inspection of the head office of the excise and taxation department in Patiala. The finance minister, Punjab, Harpal Singh Cheema on Tuesday conducted a surprise inspection of the head office of the excise and taxation department in Patiala. (PTI File) The minister arrived at the department accompanied by excise commissioner Jatinder Jorwal, and inspected various branches of the office. During the surprise check, he reviewed the attendance of officers and employees, scrutinised the files on desks, and assessed the general pace of work. Expressing concern over delays in the disposal of cases and files, he declared that 'unwarranted delays will be treated as a form of corruption.' Cheema and the excise commissioner seized several documents during the inspection and compiled a list of files that will be subject to further scrutiny and action. The minister also evaluated the functioning of the department's e-office system, emphasizing that all official work must be disposed of promptly. 'Even a day or two of unnecessary delay in official work is unacceptable,' he said. 'Every officer has the right to submit a report based on facts, whether positive or negative, but intentional delay will not be tolerated,' he said. Speaking to the media after the inspection, he said, 'Those who delay official work are equally responsible for corruption'. He added that the action is already being taken against commercial vehicles—particularly heavy vehicles—evading GST or involved in other forms of tax fraud on highways.
