Hyderabad: Liquor Prices Likely to Increase Soon
The State Government is considering raising liquor prices, including beer, starting next month. This move is aimed at increasing State-Owned Tax Revenues (SOTR) following a recent decline in revenue collections due to various factors.
Chief Minister A Revanth Reddy has instructed the state Excise and Prohibition Department to explore ways to boost income from liquor sales. Meanwhile, breweries have been requesting a price hike on beer to improve their profit margins. As part of these measures, the prices of premium whisky, beer, and wine are expected to rise by 10% to 15%. Indian Made Foreign Liquor (IMFL) prices are also likely to increase soon.
Officials revealed that the Excise department plans to generate an additional Rs 500 crore per month from liquor sales this financial year. The government has already set a target of Rs 25,000 crore in revenue from liquor sales, and the additional income is expected to ease monthly financial challenges.
Last year’s liquor sales during festivals like Dussehra and Diwali, as well as year-end celebrations, were highly encouraging. By raising liquor prices, the government aims to collect significant revenue and meet its targets before the financial year ends in March. Currently, there are 2,260 liquor shops and 1,171 bars and restaurants licensed to operate in the state.
