U'khand govt approves new excise policy, sets revenue target of Rs 4,440 cr

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The Uttarakhand government on Wednesday approved the state's new excise policy setting a revenue target of Rs 4,440 crore for 2024-25.

The target for the next fiscal set by the cabinet is 11 per cent more than that of the current financial year (2023-24) which stood at Rs 4000 crore.

The decision to approve the new excise policy was taken at a meeting of the state cabinet chaired by Chief Minister Pushkar Singh Dhami, Chief Secretary Radha Raturi told reporters.

The new excise policy will boost the state's revenue by high quality, aromatic liquor production using the Himalayan state's rich herbal and floral wealth, the fruits grown here and its multiple water resources, she said.

It will also enhance the income of farmers in the state, the chief secretary said.

It makes provision for a micro distillation unit in the hills to promote innovation and investment in the field in hilly areas, she said.

The new policy makes provisions for the first time for the bottling of foreign liquor so that it turns from a consumer state into a manufacturing and exporting state, Raturi said.