Attributing remarkable milestone in the state’s excise revenue growth to the success of the Excise Policies implemented since the Aam Aadmi Party (AAP)-led Punjab government assumed office in 2022, Punjab Finance, Planning, Excise and Taxation Minister Advocate Harpal Singh Cheema on Saturday announced that state’s excise revenue has seen unprecedented cumulative growth over the past three years, rising from Rs 6,254 crore in 2022-23 to over Rs 10,200 crore in 2024-25.

He said that for the first time in Punjab’s history, the excise revenue would surpass the five-digit mark, with the target of Rs 10,145 crore for the financial year 2024-25 likely to be exceeded.

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Addressing a press conference here, Finance Minister Cheema lauded the Excise Department’s achievements, stating that the success of the tendering process has set the stage for a fourth consecutive year of remarkable growth for the Punjab Excise Department.

He said that the Excise Department has received an overwhelming response in its ongoing e-tender process for the allotment of retail liquor licences for the fiscal year 2025-26. He revealed that the department had set a reserve price of Rs 9,017 crore for 207 retail liquor groups.

As of March 20, 179 of these groups, accounting for 87 per cent of the total, have been successfully allotted, fetching a discovered price of Rs 8,681 crore along with an additional Rs 871 crore as premium against the reserved price of Rs 7,810 crore.

The Finance Minister expressed confidence in achieving the ambitious target of Rs 11,020 crore for the upcoming fiscal year 2025-26. He said that the tremendous response to the e-tendering process suggests that the department is likely to surpass this target, potentially reaching approximately Rs 11,800 crore.

Reaffirming Chief Minister Bhagwant Singh Mann-led Punjab government’s commitment to transparency, efficiency, and progressive policies, Finance Minister Cheema said that this growth in excise revenue is a testament to the success of the excise policies, which have been instrumental in driving the state’s excise revenue to unprecedented heights.