Liquor prices look north
THE STATE Government on Wednesday evening approved a new excise policy hiking licence and duty fees on Indian Made Foreign Liquor (IMFL) and the country liquor.india Updated: Mar 02, 2006 02:14 IST
THE STATE Government on Wednesday evening approved a new excise policy hiking licence and duty fees on Indian Made Foreign Liquor (IMFL) and the country liquor.
As no meeting of the State Cabinet could be held, the new policy was approved by the Cabinet through rotation system. As per the decision IMFL would cost more by Rs 10 per bottle while prices of country liquor would go up by Rs 6 per quarter. According to sources, duty fee on scotch may increase by Rs 16 per bulk litre while licence fee on scotch may go up by 8 to 15 per cent.
On other varieties of IMFL the licence fee has also been raised Rs 6 per bulk litre. At the same time the licence fee on country liquor goes up by Rs 5 per bulk litre while the duty has been hiked Rs 6 per bulk litre. A hike of 10 per cent is being made on licence bar fees.
The State Government has so far been able to get a revenue of Rs 2100 crore against the annual target of Rs 3200 crore. In view of the hiked fees, the target for 2006-2007 has been raised to Rs 3700 crore.
As per the new policy the licences of existing shops would be renewed. The State Government has decided to resort to lottery system to allocate shops, the licences for which may not be issued.
First Published: Mar 02, 2006 02:14 IST