Chandigarh, April 1 -- Punjab finance minister Harpal Singh Cheema on Tuesday announced that the state excise and taxation department has achieved an annual growth rate of 16.36% over the previous financial year by achieving excise revenue of Rs.10,743.72 crore for the financial year 2024-25.

He said that during the financial year 2024-25, the total revenue of the state from VAT, CST, GST, PSDT and Excise crossed the limit of Rs.40,000 crore for the first time in the history of the state. The state mopped up Rs.42,289.97 crore at a growth rate of 12.47%.

Disclosing this in a press statement, Cheema said the state collected Rs.598.72 crore more in excise revenue helping in surpassing the target of Rs.10,145 crore set for the 2024-25 fisc...