BENGALURU: In some bitter news for beer lovers, the prices of a few brands will go up by as much as Rs 20 to Rs 40 per 650 ml bottle from January 20 itself. The Excise Department had proposed the hike late last year and the revised prices will come into effect before the state budget.
The Excise Department has not been able to meet its target of Rs 38,525 crore for the financial, though a little more than two months remain. Hence, the price rise is being considered to make good the shortfall, according to official sources.
The Excise Department is about Rs 15,000 crore behind its target and plans to make up for the shortfall by raising prices, according to Karunakar Hegde of the Wine Merchants Association.