GST mop-up grows 24.15 pc in Apr-Jul this fiscal: Punjab FM

Punjab Finance Minister Harpal Singh Cheema on Monday said the state’s GST collections grew 24.15 per cent year-on-year in the first four months of the current fiscal.

“In four months, April till July, the GST (goods and services tax) collection in the state jumped by 24.15 per cent,” said Cheema while addressing the media here.

Sharing details, Cheema said the state’s GST collection from April till July stood at Rs 7,243 crore compared to Rs 5,834 crore mopped up in the corresponding period of the last fiscal.

On outstanding debt, Cheema said the state government repaid debt, including the interest component, amounting to Rs 10,366 crore in these four months.

He, however, said the government borrowed Rs 8,100 crore from April to July.

The minister also said the state government gave financial assistance of Rs 525 crore to Punjab State Cooperative Agricultural Bank for bailing it out.

Cheema further noted that the AAP government was committed to fulfil all its promises made to the people of Punjab.

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