2 days ago
IMFL prices to rise up to 85% as Maharashtra cabinet approves excise hike; rate on country liquor increased to Rs 205
The Maharashtra state cabinet has approved an excise tax revision, significantly increasing the price of ordinary whisky and rum by Rs 90-100 per quarter bottle, while premium IMFL brands will see a smaller increase of Rs 30-40.
M
UMBAI: The minimum price of Rs 115 for a quarter bottle (180ml) of ordinary whisky or rum will rise by Rs 90-100 with the state cabinet approving a revision in excise taxes Tuesday.
While it is a rise of 78-85% for ordinary Indian-made foreign liquor (IMFL), the hit on the pocket is softer for premium IMFL brands, which will cost Rs 30-40 more that the minimum price of Rs 330 today for a quarter, or a rise of 9-12%.
Besides a 14% excise increase for country liquor, the cabinet also approved a rise in the licence fees for permit rooms. Manufacture of a new grain-based foreign liquor, to be called Maharashtra-made liquor (MML), was also approved.
The state govt, which has been looking for ways to increase its revenue to fund schemes and election promises like the Rs 1,500 per month Ladki Bahin dole for women, hopes to mop up an additional Rs 14,000 crore with the excise hike.
The meeting that cleared the proposals was chaired by CM Fadnavis. A secretary-level study group had been formed to increase the revenue of the excise department. This group studied the best practices and policies in other states and submitted its recommendations and reports to the govt.
