Chandigarh: Punjab Finance, Planning, Excise and Taxation Minister Advocate Harpal Singh Cheema on Tuesday announced that the Excise and Taxation Department has achieved a significant milestone in revenue collection for the financial year 2025-26, reflecting the success of robust excise policy measures and efficient administrative practices. He said that against the revised excise revenue target of Rs 11,200 crore, the department has successfully collected Rs 11,782 crore up to March 31, 2026, surpassing the target by Rs 582 crore.
Sharing the comprehensive financial achievements, Finance Minister Harpal Singh Cheema attributed this success directly to the state government’s proactive governance and trade-friendly policies. Highlighting the historic transformation, Finance Minister Cheema said, “Significantly, excise revenue has nearly doubled over the past four years, rising from Rs 6,254.84 crore to Rs 11,782 crore, with a new target of Rs 12,800 crore set for 2026-27. This accomplishment underscores the department’s strong commitment to maximising revenue while ensuring transparency and compliance.”
Detailing the blueprint for the upcoming fiscal year, Finance Minister Cheema outlined the strategic financial targets. Cheema said, “For the financial year 2026-27, the Excise Policy has been formulated with a projected license fee target of Rs 10,520 crore, as compared to Rs 9,877 crore in 2025-26. It is pertinent to mention that all 207 retail liquor groups in the state have been allotted for the year 2026-27, reflecting licensees’ confidence in the State Government’s Excise Policy. The overall response to the Excise policy 2026-27 has been encouraging. It has ensured stability in the liquor trade while maintaining a steady flow of revenue to the state exchequer.”
Addressing the state’s revenue streams’ continuous upward trajectory, Finance Minister Harpal Singh Cheema emphasised the Chief Minister Bhagwant Singh Mann-led Punjab Government’s future strategies. “Looking ahead, the Excise Department has set an ambitious overall revenue target of Rs 12,800 crore for the financial year 2026-27. The Government is confident of achieving this goal through strengthened enforcement, enhanced compliance mechanisms and strategic policy interventions, striking a balance between revenue generation and regulatory efficiency”, he concluded.
