Latest news with #Maharashtra-madeLiquor
Time of India
11-06-2025
- Business
- Time of India
After Ladki Bahin scheme, Maharashtra hikes liquor duties to ease cash crunch
Amid cash crunch, the Maharashtra government has decided to hike excise duty of Indian-made Foreign Liquor (IMFL) from three times to 4.5 times of the declared manufacturing cost (up to ₹260 per bulk litre). The state Cabinet has also decided to increase duty on country liquor from ₹180 to ₹205 per proof litre. The state has introduced a new category of grain-based Maharashtra-made Liquor (MML), which will be produced by local manufacturers but will require new registrations. The state has also revised minimum retail prices for 180 ml bottles - country liquor will now cost ₹80 (₹70 earlier), MML will cost ₹148 and IMFL ₹205. Premium foreign liquor will cost ₹360 (₹210 earlier). The duty hikes will help the state government earn ₹14,000 crore more annually. Maharashtra has been facing a cash crunch due to payout schemes, such as the Ladki Bahin Yojana where eligible women are paid ₹1,500 per month. According to a note from the Chief Minister's Office, the decisions in the Cabinet were taken after 'a high-level study of best practices in other states, covering excise duty structures, licensing and tax collection'. The state has also decided to create 1,223 new posts - 744 regular and 479 supervisory in the excise department. The bill will be tabled in the upcoming session of the state legislature.
Time of India
11-06-2025
- Business
- Time of India
Sula Vineyards, GM Breweries shares jump up to 18%. What's making their brew stronger?
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Shares of Sula Vineyards and GM Breweries soared up to 18% on Tuesday, defying the broader sell-off in liquor stocks , as investors cheered Maharashtra's latest liquor policy shake-up that spared beer and wine from a steep excise duty hike Sula, which had been under pressure in recent months, jumped as much as 13% to Rs 335.45 on the BSE, while GM Breweries surged 16%. Meanwhile, industry giants United Spirits and Allied Blenders dropped up to 7% in reaction to the policy Maharashtra government raised the excise duty on Indian-made Foreign Liquor (IMFL) from three times to 4.5 times the declared manufacturing cost. But beer and wine were notably exempted from this hike, a move that sent investors rushing toward companies like Sula and GM Breweries, which stand to gain from their focus on those Breweries, in particular, caught the market's attention with expectations that it could benefit from the introduction of a new category: Maharashtra-made Liquor (MML). This grain-based spirit will be produced by local manufacturers, though it will require fresh registrations. GM, known for its strong country liquor portfolio, is expected to adapt quickly to this contrast, the policy dealt a blow to larger IMFL players, who are more exposed to the newly increased duty said beer, which has a lower alcohol content, was excluded from the hike as its retail price in Maharashtra is already among the highest in the country. As for wine, the state reaffirmed its long-standing support for the industry, citing its economic linkages: a majority of India's wineries and grape farmers are based in new excise structure has shaken up sentiment across the liquor sector, sharply dividing the winners from the losers. And for now, wine and country liquor players appear to be raising their glasses.
Time of India
10-06-2025
- Business
- Time of India
After Ladki Bahin scheme, Maharashtra hikes liquor duties to ease cash crunch
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Amid cash crunch, the Maharashtra government has decided to hike excise duty of Indian-made Foreign Liquor (IMFL) from three times to 4.5 times of the declared manufacturing cost (up to ₹260 per bulk litre). The state Cabinet has also decided to increase duty on country liquor from ₹180 to ₹205 per proof state has introduced a new category of grain-based Maharashtra-made Liquor (MML), which will be produced by local manufacturers but will require new state has also revised minimum retail prices for 180 ml bottles - country liquor will now cost ₹80 (₹70 earlier), MML will cost ₹148 and IMFL ₹205. Premium foreign liquor will cost ₹360 (₹210 earlier).The duty hikes will help the state government earn ₹14,000 crore more annually. Maharashtra has been facing a cash crunch due to payout schemes, such as the Ladki Bahin Yojana where eligible women are paid ₹1,500 per to a note from the Chief Minister's Office, the decisions in the Cabinet were taken after 'a high-level study of best practices in other states, covering excise duty structures, licensing and tax collection'.The state has also decided to create 1,223 new posts - 744 regular and 479 supervisory in the excise bill will be tabled in the upcoming session of the state legislature.
