Chandigarh, April 2: The Revenue collection in Punjab haswitnessed an upward trend during the financial year 2020-2021 to the tune ofRs. 10,382.08 crore in comparison to the corresponding period of last fiscaldue to the efficacious fiscal consolidation measures undertaken by the StateGovernment led by Chief Minister Captain Amarinder Singh.
Divulging the details, a spokesperson of the ChiefMinister’s office said that during 2020-21, the total revenue collection wasRs. 42918.34 crore reflecting a hike of 31.91 % as compared to Rs. 32536.26crore collected during FY 2019-20.
Pertinently, the collection from VAT & CST amounted toRs. 6113.54 crore during 2020-21 while the last year’s figures stood at Rs.5408.12 crore thus showing an increase of Rs. 705.42 crore (13.04%). Similarly,the Excise collection pegged at Rs. 6091.21 crore during last fiscal showing anincrease of Rs. 1068.35 crore (21.27%) over the collection of Rs. 5022.86 croreduring the corresponding period for the financial year 2019-20. Meanwhile, theGST collection and Compensation cess during 2019-20 was Rs. 22105.28 crorewhile the corresponding figure during 2020-21 stood at Rs. 30713.59 crore whichshows surge of Rs. 8608.31 crore (38.94 %).
The State government through fiscal consolidation coupledwith economic prudence and budget management has led to the marked improvementin the excise collection.