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Punjab losing ₹5,000 to ₹7,000 crore annually due to GST regime: Harpal Cheema
Speaking at the ‘Punjab Vision: 2047’ conclave, organised by the World Punjabi Organisation at Panjab University, he said the nation can achieve the 2047 development goals only if all states progress together.
Punjab finance minister Harpal Singh Cheema on Tuesday blamed the Goods and Services Tax (GST) regime for the financial decline of the state, saying that it was causing an estimated revenue loss of ₹5,000 to ₹7,000 crore annually.
Speaking at the ‘Punjab Vision: 2047’ conclave, organised by the World Punjabi Organisation at Panjab University, he said the nation can achieve the 2047 development goals only if all states progress together.
Highlighting the significant revenue losses for states due to the current GST regime, he said the system needs an overall.
The minister spoke about Punjab’s pivotal role during the green revolution, which significantly boosted the country’s grain reserves. He acknowledged the setbacks faced during the post-1980 period but expressed optimism about the state’s current development trajectory under the Aam Aadmi Party.
Rajya Sabha member Raghav Chadha envisaged a future where Punjab emerges as a leader in sustainable agriculture, economic diversification, education, green energy, infrastructure, and social equality.
Rajya Sabha member Vikramjit Singh Sahney, who is the international president of World Punjabi Organisation, said the two-day conclave’s objective is to create a platform where diverse perspectives converge to shape Punjab’s future.
“By bringing together experts from various fields including government officials, industry leaders, academics, and civil society members, the event seeks to foster meaningful discussions, identify opportunities, and develop strategies for Punjab’s progress toward inclusive, sustainable growth and development,” he said.
