Tamil Nadu Government to Increase Liquor Prices to Boost Revenue

Increase Liquor Prices

The Tamil Nadu state government has recently announced its decision to raise the prices of liquor at Tasmac outlets starting next month. This move is aimed at boosting the state’s revenue. In the fiscal year 2022–23, Tamil Nadu reportedly earned around ₹44,000 crore from Tasmac, highlighting the significant contribution of liquor sales to the state’s finances.

According to an official release, the prices of 180 ml of ordinary and medium-range liquor will be increased by ₹10, while the premium category of 180 ml of liquor will see a hike of ₹20. These price adjustments will be implemented through higher sales tax and excise duty. It is worth noting that this is the first increase in IMFL (Indian Made Foreign Liquor) prices in nearly two years. Tasmac had previously raised the price of imported liquor in September last year.

The price hike will not only affect the 180-ml bottles but also extend to other sizes. Tasmac has stated that the prices of all types of liquor sold in 375 ml, 750 ml, and 1000 ml bottles, as well as beer in 325 ml and 500 ml bottles, will be adjusted accordingly. This means that consumers can expect an increase in prices across various categories of liquor and beer.

Tasmac, the state-owned retail liquor monopoly, offers a wide range of alcoholic beverages to its customers. In the ordinary liquor category alone, Tasmac sells over 40 different brands, while the medium-range segment includes nearly 50 brands. For those seeking a more premium experience, Tasmac offers over 125 brands of high-end liquor. Additionally, the retail outlet also provides a selection of 35 beer brands and 13 varieties of wine.

The state government will receive all proceeds since it will take the form of higher excise taxes and sales taxes. Tasmac generated 44,099 crore in revenue for the state government in 2022–2023.
According to Tasmac sources, IMFL prices have increased following a nearly two-year hiatus. In September of the previous year, Tasmac increased the price of imported liquor.
Throughout the last four years, breweries have been requesting higher procurement prices, but to no help.

The decision to raise liquor prices is aimed at generating additional revenue for the state government. By increasing the sales tax and excise duty, the government hopes to bolster its financial resources. This move comes as part of the government’s efforts to find new sources of income and reduce dependence on traditional revenue streams.

While the price hike may be seen as a burden for consumers, it is important to recognize the potential benefits it can bring to the state. The additional revenue generated from the increased liquor prices can be utilized for various developmental projects and welfare initiatives. It can contribute to the improvement of public services, infrastructure, and social welfare programs.

It is also essential to consider the potential impact of the price hike on alcohol consumption. Higher prices may discourage excessive drinking and promote responsible alcohol consumption. This can have positive implications for public health and reduce the social costs associated with alcohol-related issues.

In conclusion, the Tamil Nadu government’s decision to increase liquor prices at Tasmac outlets is aimed at boosting the state’s revenue. The price hike will apply to various categories of liquor and beer, and it will be implemented through higher sales tax and excise duty. While this may be an additional expense for consumers, the increased revenue can be utilized for the development of the state and welfare initiatives. Furthermore, it may also contribute to promoting responsible alcohol consumption.

Also Read

Impact of Mass Migration on Higher Education in Punjab

YouTube, Spotify, and Netflix Will Not Offer Dedicated Apps for Apple Vision Pro

Water Supply to be Affected in Several Areas of Delhi Due to DMRC Interconnection

Leave a Comment

Discover more from 4newser

Subscribe now to keep reading and get access to the full archive.

Continue reading