Punjab's earnings have reduced in contrary to Harpal Cheema's claims, reveals CAG report
Chandigarh, October 27: In contrary to claims being made by Punjab Finance Minister Harpal Cheema with regard to the financial health of the state, the report of the Comptroller and Auditor General of India (CAG) on the revenue sector presents a different picture.
In the CAG report, it has come to light that Punjab's earning have reduced while the Punjab Government has been claiming it the other way.
Earlier this month, Punjab Finance Minister Harpal Cheema took to his Twitter handle to share information about GST figures and presented 22.60 per cent growth through the GST, which was also covered all around Punjab by several new agencies.
As per information, the Punjab Government took a loan of Rs 11464.68 crore in the last six months. The income from GST, stamp duty, petrol and land revenue has decreased, but the state government has been making claims of increase in income.
If we go by the figures, the financial condition of Punjab is not good at this time and not much improvement is visible in the coming months.
As per official data, the Punjab Government took a loan of Rs 419 crore in April, Rs 2,447.54 crore in May and Rs 3,385.41 crore in July. In addition, the government took a loan of Rs 1,466.62 in August and Rs 5,875.70 crore in September.
A amount of Rs 7,803 crore has gone towards interest only. The state paid an interest of Rs 914.41 crore in April, Rs 737.66 crore in May, Rs 1354.07 crore in June, Rs 1,165.13 crore in July, Rs 1,310.84 crore in August and Rs 2,321.41 crore in September.
The income from GST collections has also decreased by 3 per cent. There has been a decrease of 2 per cent in income from stamp duty and 17 per cent from land revenue.
Income from fuel excise duty has also decreased by 15 per cent while income from liquor has increased by less than 0.2 per cent only. Income in the form of central tax has increased by 7 per cent and non-tax revenue has increased by 15 per cent.
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Harpal Cheema had claimed that in the first six months of the last financial year, GST collection stood at Rs 8,650 crore, whereas during the current year, the state has earned Rs 1,954 crore more, taking the total GST collection to Rs 10,604 crore. However, the latest report submitted by the CAG reveals that the government also showed profit on loan taken, which clearly points towards distorted figures.
Disclosing the GST figures for September 2022, Cheema said the state had registered a growth rate of 22%. He said the GST collection for September this year was Rs 1,710 crore as compared to the collection of ₹1,402 in September 2021.
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Taking on the AAP-led Punjab Government, All-India Kisan Congress chief and Bholath MLA Sukhpal Singh Khaira said "If Bhagwant Mann government continued to raise loans at this speed, they would add Rs 1 lakh crore in their tenure, which is much more than traditional parties whom these revolutionaries accuse of corruption. In the first six months, they raised Rs 11,465 core with most of money being spent on advertisement."
No government version was available when the report was last filed.
-PTC News
