Finance Minister Harpal Singh Cheema hails Punjab’s GST growth of 21.5% till October 2025, signaling strong economy despite natural challenges.

Punjab has shown amazing financial strength and administrative efficiency, with Net GST receipts rising by 21.51% up to October 2025 and by 14.46% in October alone. Punjab’s Finance, Planning, Excise, and Taxation Minister Harpal Singh Cheema praised the state’s performance in a press release sent out from here. This was despite the fact that there were extensive floods and tax rates were recently changed under GST 2.0.

The Finance Minister said that the state collected Rs 15,683.59 crore in Net GST from April to October 2025, which is a huge increase of Rs 2,776 crore over the same time period in the previous fiscal year (FY). He went on to say that the growth rate for FY 2024–25 up to October 2024 was only 3.80 percent.

The Finance Minister also said that the state’s Net GST collection for October 2025 was Rs 2,359.16 crore, which is a big jump from Rs 2,061.23 crore in October 2024. This is a Rs 298 crore gain that shows the state’s economy is still growing. He pointed out that this success came after the GST 2.0 revisions that took effect in September 2025 and cut a number of tax brackets.

“Even though the tax slab was lowered and there were terrible floods, Punjab’s GST revenue went up. This shows that better compliance, anti-evasion programs, and digital monitoring systems are working.” Cheema added, “The state’s 21.5 percent growth is much higher than the national average of 7 percent, making it one of the best in North India.”

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He also said that the post-settlement numbers for SGST and IGST show that Punjab’s finances are strong. By October 2025, the state’s total collections will have grown faster than those of all its neighbors save Haryana. The Finance Minister added that this performance showed how strong Punjab’s trade and industry are, especially because about half of the state’s districts were impacted by floods during this time.

Cheema said that the outcomes were due to the Excise and Taxation Department’s strategic focus on data analysis, digital integration, and strict enforcement in the field. He said again that the Department is committed to making it easier for honest taxpayers to pay their taxes, cracking down on tax evasion, and bringing Punjab’s economy back to life through clear and effective tax management.