Punjab will have to wait for the excise policy 2022-23 till the formation of a new government in the state. The Bhagwant Mann-led AAP government is to take oath on March 16.
According to the usual practice, the policy for the upcoming financial year is declared in February and implemented from April 1. The policy is announced after the approval of the state’s council of ministers.
According to excise commissioner Rajat Agarwal, the department has started collating data for framing the policy.
The excise policy fixes the price and sale targets for Punjab medium liquor (PML) and Indian made foreign liquor (IMFL), besides deciding on the number of vends in the state. It also fixes manufacturing targets for distilleries in the state besides number of licences to hotels, restaurants and bars for sale of liquor.
Liquor contractors fear losses in case the policy declaration gets extended by a month or two. “A policy from a retrospective effect affects the business as the 12-month targets are compressed into a shorter period after the policy is declared. It is always good to have the policy in advance, so that we can plan accordingly,” said a contractor, who did not wish to be named.
A major source of revenue for the state, the excise policy announced last year pegged the revenues for the current financial year (2021-22) at ₹7,002 crores, an increase of 20% from the previous year’s target of ₹5,794 crore. According to Agarwal, the department has already achieved 102% target, and it is expected to go up by the end the fiscal.
{{/usCountry}}A major source of revenue for the state, the excise policy announced last year pegged the revenues for the current financial year (2021-22) at ₹7,002 crores, an increase of 20% from the previous year’s target of ₹5,794 crore. According to Agarwal, the department has already achieved 102% target, and it is expected to go up by the end the fiscal.
{{/usCountry}}This year, the excise department is expected to increase the target further by 20%, touching around ₹8,400 crores. “Let us see what increase in target we get for the upcoming year, as a lot depends on the government that takes over,” said an excise officer, on the condition of anonymity.