*GST COLLECTIONS UP BY 16% AND EXCISE REVENUE SURGES TO RS 7,401 CRORE IN FY 2025-26: FINANCE MINISTER HARPAL SINGH CHEEMA*

*GST COLLECTIONS GROWTH: RS 2,467.30 CRORE GROWTH OVER CORRESPONDING PERIOD OF PREVIOUS YEAR*

*VAT AND CST COLLECTIONS: RS 5,451.76 CRORE, MARKING A 3.35% INCREASE COMPARED TO PRIOR YEAR*

*ONE-TIME SETTLEMENT (OTS) SCHEME-2025: DISPOSED OF 3,574 CASES, YIELDING RS 52 CRORE IN TOTAL RECOVERIES*

*TAX INTELLIGENCE UNIT AND BIG DATA ANALYTICS: RECOVERED RS 344.06 CRORE IN TAXES AND PENALTIES*

*8.64% INCREASE IN EXCISE REVENUE OVER THE SAME PERIOD LAST YEAR*

*3,860 FIRS LODGED AND 3,795 ARRESTS MADE TO CURB LIQUOR SMUGGLING AND ILLICIT DISTILLATION*

*INVESTING IN CAPACITY BUILDING: TRAINING 5,111 OFFICERS THROUGH 144 SPECIALIZED PROGRAMS*

*FORTIFYING REVENUE SAFEGUARDS: INTEGRATED STRATEGIES TO ENSURE SUSTAINED MOMENTUM FOR THE REMAINDER OF THIS FISCAL YEAR*

Chandigarh, December 23-Punjab Finance, Planning, Excise and Taxation Minister Advocate Harpal Singh Cheema on Tuesday announced that the state has achieved a significant fiscal milestone in the financial year 2025-26, driven by a 16.03% surge in GST collections amounting to Rs 17,860.09 crore and a robust Excise revenue collection of Rs 7,401 crore up to November 2025. Attributing this success to a harmonious framework of innovation and vigilance, the Finance Minister highlighted that the Excise and Taxation department has not only surpassed previous benchmarks but also successfully implemented the One-Time Settlement (OTS) Scheme-2025 and advanced data analytics to dismantle tax evasion.

Reviewing the sectoral performance, the Finance Minister Harpal Singh Cheema said that the Goods and Services Tax (GST) collections grew by Rs 2,467.30 crore over the corresponding period of the previous year, reflecting the state’s focus on economic recovery and improved taxpayer compliance. He said that even after the GST 2.0 rate rationalisation in September 2025, which reduced taxes on essential items from 12% to 5%, the department's targeted initiatives kept cash tax collections steady. Simultaneously, the Value Added Tax (VAT) and Central Sales Tax (CST) collections reached Rs 5,451.76 crore, marking a 3.35% increase compared to the prior year.

“The Excise Commissionerate has also displayed exceptional performance under the Excise Policy 2025-26, which set an ambitious annual collection target of Rs 11,020 crore. By November 2025, the department has already registered an 8.64% increase in excise revenue over the same period last year”, said the Finance Minister while adding that this follows the record-breaking performance of the previous financial year 2024-25, where revenue grew by 16.36% to reach Rs 10,723 crore. The Finance Minister also emphasized that enforcement remains a priority, with 3,860 FIRs lodged and 3,795 arrests made this year to curb liquor smuggling and illicit distillation.

The Finance further added that another major highlight of the year was the success of the One-Time Settlement (OTS) Scheme-2025, which has disposed of 3,574 cases as of December 18, 2025, yielding Rs 52 crore in total recoveries while providing tax waivers to the trading community. He said that the Taxation department also leveraged its indigenous Tax Intelligence Unit (TIU) and big data analytics to recover Rs 344.06 crore in taxes and penalties through tool-generated insights. Furthermore, the persistent monitoring of GSTR-3B non-filers resulted in Rs 2,185.96 crore in cash deposits.

The Finance Minister also lauded the State Intelligence & Preventive Units (SIPUs) for their escalated enforcement regime, which saw penalty impositions rise to Rs 618.53 crore

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Cabinet Minister Sanjeev Arora Highlights HMEL’s Major Industrial Expansion Plans of 2600 Crores in Punjab

Chandigarh, 23 December 2025:Cabinet Minister for Industries & Commerce, Investment Promotion, Power & NRI Affairs, Government of Punjab, Sh. Sanjeev Arora, on Tuesday highlighted the significant industrial contribution and future expansion plans of HPCL–Mittal Energy Ltd. (HMEL), reaffirming the State Government’s commitment under the visionary leadership of National Convenor Sh. Arvind Kejriwal and Chief Minister Punjab S. Bhagwant Singh Mann to support large-scale investments and strengthen Punjab’s industrial ecosystem.

Shri Prabh Das, Managing Director & CEO, HMEL said that we are going to invest in a refinery and petrochemical complex in Bhatinda. We produce fuels like petrol, diesel, LPG, ATF, along with polymers including polyethylene and polypropylene. We got full support from people of Punjab as well as the government during construction and operations of this massive complex. So far, neither construction or operations have been affected even for a day during the last so many years. This is mainly due to proactive policies and ease of doing business of the Punjab government. We are fortunate to have a farsighted leader, Shri Sanjeev Arora, who is dynamic, reform centric, development oriented and outcome focused. He said that under Sanjeev Arora dynamic leadership, Punjab's industrial growth will create new opportunities for entrepreneurs, industries, and youth of the state.

Sh. Sanjeev Arora said that HMEL stands as a landmark public–private partnership between Hindustan Petroleum Corporation Limited (HPCL)—a Navratna and Fortune 500 PSU—and Mittal Energy Investment Pte. Ltd., Singapore (Lakshmi N. Mittal Group), and has emerged as one of Punjab’s most significant industrial success stories. He assured them that they will get full government support for expanding their plant in Punjab.

He noted that HMEL’s refinery and integrated petrochemical complex, spread over about 2,000 acres at village Phulokheri, tehsil Talwandi Sabo, district Bathinda, commenced refinery operations in 2011, while the addition of the petrochemical facility in 2023 has substantially enhanced value addition and downstream industrial activity in the State.

The Minister highlighted that HMEL currently has an annual turnover of approximately Rs. 90,000 crore and contributes around Rs. 2,100 crore annually to the State exchequer in the shape of taxes, underlining its critical role in Punjab’s economy. The project provides employment to nearly 10,000 persons, both directly and indirectly, making it one of the largest industrial employers in Punjab.

He further pointed out that HMEL produces substantial quantities of LPG, petrol and diesel, playing a crucial role in meeting the fuel requirements of North India. In addition, HMEL is the second-largest producer of polymers in India, catering to nearly 14 per cent of the country’s total polymer demand.

Referring to recent developments, Sh. Sanjeev Arora said that through its 100 percent subsidiary HMEL Organics Pvt. Ltd. (HOPL), a Bio-Ethanol Plant was commissioned in 2024 adjoining the existing refinery. Building on this, HOPL has proposed a forward integration project in fine chemicals, involving a phased investment of over Rs. 2,600 crore.

The proposed expansion is expected to generate around 500 additional direct and indirect employment opportunities, result in an additional annual turnover of about Rs. 2,400 crore, and has strong export potential, further positioning Punjab as a hub for petrochemicals and value-added manufacturing.

Reiterating the Government’s pro-industry approach, Sh. Sanjeev Arora stated that the Government of Punjab remains fully committed to facilitating such large-scale investments through progressive policies, time-bound approvals, and an investor-centric ecosystem, ensuring sustained industrial growth and employment generation in the State.

Shri Prabh Das, Managing Director & CEO, HMEL; Shri Sanjeev Malhotra, Vice President, HMEL; Shri Vishav Bandhu, Chief State Coordinator, HMEL; Ms. Seema Bansal, Vice Chairperson, Punjab Development Commission; and Shri Amit Dhaka, IAS, CEO, Punjab Invest were present during the press conference.