Despite price rise, excise revenue surges

BENGALURU: After the prices of liquor were increased in the budget, it was expected that sales would drop. But the excise revenue has only shot up over the last few months.

Excise officials told Public TV that the revenues have surpassed last year’s earnings between April and September this financial year despite the rise in prices. In the first six months of the current fiscal year, there has been a 4.14 per cent rise in sales, which translates to Rs 1,882 crore rise. The officials also disputed the claim that sales have dropped after the 20 per cent rise in excise duty. They also said that revenue collection has risen 14.01 per cent over the same period last year.

Between April and September 14 this year, the excise revenue has been Rs 15,314 crore and officials are confident of reaching the budget target of Rs 36,000 crore. This is 42.58 per cent of the target and is 14.01 per cent above last year’s collection during the same period, which was Rs 13,431 crore, they pointed out.

Chief Minister Siddaramaiah had presented the budget on July 7 and the new prices came into effect from July 20. In the meantime, there were complaints that several liquor store owners had hoarded stocks and were selling liquor at the revised prices, the officials pointed out.