However, former Punjab Chief Minister Parkash Singh Badal and his son, former deputy CM Sukhbir Singh Badal were conspicuous by their absence from the House when it started its sitting this afternoon.
The oath was administered by pro-tem Speaker Rana KP Singh of Congress.
Punjab CM Amarinder Singh was the first to be administered oath by the pro-tem Speaker. He took oath in Punjabi.
After him, senior most cabinet minister Brahm Mohindra took oath, followed by other cabinet ministers including Navjot Singh Sidhu, Manpreet Singh Badal, Sadhu Singh Dharamsot, Tript Rajinder Singh Bajwa, Rana Gurjit Singh, Charanjit Singh Channi, two ministers of State (Independent Charge) Aruna Chaudhary and Razia Sultana.
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Leader of Opposition in the House and AAP MLA from Dakha H S Phoolka was administered oath by the pro-tem Speaker.
All the women MLAs were administered oath individually.
The pro-tem Speaker also administered oath to the MLAs in the alphabetical order of assembly constituencies.
The election of the Speaker and the Deputy Speaker will be held on March 27.
Punjab Governor V P Singh Badnore will address the assembly on March 28, followed by a debate on the Governor's Address and Motion of Thanks.
Supplementary Grants for 2016-17 and the Vote on Account for 2017-18 will be presented on March 29.
The Aam Aadmi Party (AAP) has won 20 seats, leaving the SAD-BJP alliance to a poor third with 18 seats.
Of the 20 AAP members, 19 are first-time MLAs.
AAP chief whip Sukhpal Singh Khaira was a Congress MLA in 2002.
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In all, 114 newly elected MLAs took oath today barring Badal and his son Sukhbir. It took two hours and 14 minutes to administer oath to the newly elected members.
The oath was administered by the pro-tem Speaker under "Article 188 of the Constitution of India".
Both Bains brothers were part of 'Awaaz e Punjab' floated by Sidhu last year.
In a respectful gesture, Indian Youth Congress chief Amrinder Singh Raja Warring took out his shoes to take oath.
Majority of the newly elected members took blessings from leader of House Amarinder Singh while taking oath.
However, Amarinder and his senior cabinet colleague Brahm Mohindra left the House in the middle of the process.
He said that Badals will take oath on Monday.
BJP MLA Dinesh Singh, who was Deputy Speaker in the previous government, took oath in Hindi.
The speaker's gallery was fully occupied by relatives of the some of the members of the House who wanted to have a glimpse of their near and dear ones taking oath.
The election of Speaker and Deputy Speaker will be held on March 27.