You are here: Home » News-IANS » Politics
Business Standard

Punjab to check liquor cartels to earn more revenue

IANS  |  Chandigarh 

The government on Tuesday approved the new policy, with an aim to check liquor cartels that will further help the state to earn additional revenue of Rs 850 crore in the next fiscal.

The policy for 2018-19 got the cabinet nod at a meeting chaired by Amarinder Singh, a government told IANS.

In the current fiscal, the government expects to collect Rs 5,150 crore as against Rs 4,400 crore collected in 2016-17. In the next fiscal, it aims to earn Rs 6,000 crore from the liquor trade.

The said under the new policy the liquor group size has been kept at Rs 5 crore only with variation up to 25 per cent to enable sufficient competition in the market, leading to reduced prices.

Besides, the number of liquor shops will be reduced from 5,850 to approximately 5,700.

The quota of Medium Liquor has been reduced from 8.44 crore proof litres to 5.78 crore proof litres and of the Indian Made Foreign Liquor (IMFL) from 3.71 crore proof litres to 2.48 crores proof litres.

--IANS

vg/vd

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, March 13 2018. 19:32 IST
RECOMMENDED FOR YOU
RECOMMENDED FOR YOU