Punjab suffered 1.11 lakh cr loss after GST implementation, says FM Cheema
GST
Dated:- 29-9-2025
PTI
Chandigarh, Sep 29 (PTI) Punjab incurred a loss of Rs 1.11 lakh crore in the past eight years following the implementation of Goods and Services Tax (GST), Finance Minister Harpal Singh Cheema said on Monday.
\n Cheema was speaking in the House on the concluding day of the state Assembly session on the Punjab Goods and Services Tax (Amendment) Bill, 2025.
\nHighlighting the adverse impact on Punjab, Cheema said the state's pre-GST revenue neutral rate was 18.3 per cent, significantly higher than the country's average rate of 14 per cent.
\nFollowing GST implementation, Punjab incurred a loss of 1.11 lakh crore over eight years, whil<\/p>\n
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\n Cheema accused the BJP-led Centre of “systematically undermining” the Constitution, citing policies like 'One Nation One Tax' and 'One Nation One Election' as “destructive” to the federal structure.
\n He also addressed concerns raised by Leader of the Opposition Pratap Singh Bajwa regarding the GST system, referring to an article by former Union Finance Minister P Chidambaram.
\nCheema recalled that the proposal for GST was originally brought forward by Chidambaram himself in 2006, but was not implemented by the then UPA government due to opposition.
\n He said the BJP-led NDA government later advanced the concept on the principle of 'One-Nation One-Tax,' which the then Punjab Finance Minister, Manpreet Singh Badal, had agreed to<\/p>\n