Liquor to be costlier as govt eyes more revenue
In a bid to increase revenues, the State Government is likely to increase the liquor prices, including beer, soon.
Hyderabad: In a bid to increase revenues, the State Government is likely to increase the liquor prices, including beer, soon. Following the recent downward in revenue collections due to various reasons, the government was finding various options to increase State owned tax revenues.
Official sources said that the Chief Minister A Revanth Reddy, has recently asked the State Excise and Prohibition Department to find out ways to increase revenue from liquor sales. The breweries request to enhance the beer prices to increase their margin was also under consideration for a long time. Sources said that the premium brand whisky, beer, and wine prices will go up by 10 per cent to 15 per cent. The IMFL (Indian Made Foreign Liquor) prices will also be increased soon.
Officials said that the excise wing was planning to generate Rs 500 crore additional revenue from liquor sales every month this financial year. The government already targeted Rs 25,000 crore in revenue from liquor sales, and the additional income will help to overcome financial challenges every month. The liquor income during Dussehra festivities was encouraging this year, and the government is expecting good revenues from liquor sales during the Diwali festival, Christmas, and New Year celebrations. The increase in liquor price will help to mobilise huge revenues since the demand for liquor was high in the November and December months. Currently, the total number of licensed liquor shops is 2,260 liquor shops and 1,171 bars and restaurants are permitted in the State.
