Chandigarh, June 18 -- The Punjab government has generated a record Rs.123.76 crore through the auction of cattle fair contracts for 2026-27, marking a sharp increase of nearly 34.5% over the Rs.92 crore realised during the previous financial year. The amount is the highest ever earned by the state from the annual auction of cattle fair contracts and reflects a sustained rise in revenue from the sector over the past three years. The state had earned around Rs.78 crore from the auction process in 2024-25, which increased to about Rs.92 crore in 2025-26 before reaching Rs.123.76 crore this year. Officials attributed the substantial increase to greater participation by bidders and a competitive online auction process that enhanced transparency and price discovery. "It is a record amount. We have successfully increased the revenue from Rs.78 crore to Rs.124 crore by ensuring competition. This time seven bidders participated, leading to an increase in bids," said secretary, rural development and panchayats, Ajit Balaji Joshi. According to officials, the latest auction fetched an additional Rs.31.76 crore compared to the previous year, providing a boost to the state's non-tax revenue. The revenue accrues directly to the rural development and panchayats department and can be utilised for development initiatives in rural areas. The contracts grant successful bidders the right to collect the unified animal fee and manage specified facilities at cattle fairs across Punjab during the contract period. These fairs operate under the Punjab Cattle Fairs (Regulation) Act, 1967, and serve as key livestock trading centres for farmers, livestock owners and traders from different parts of the state. Additional director, rural development, Amardeep Gujral, who supervised the auction process, said the shift to an online bidding mechanism had significantly improved transparency and competitiveness. "The online auction system has improved transparency and ensured better competition among bidders, resulting in higher revenue realisation for the government. The successful bidder from Rajpura has been directed to deposit 25% of the contract amount and take over operations from June 21," he said....