Karnataka govt increases excise duty on IMFL and beer

economictimes.indiatimes.com:

excise duty on IMFL and beer while presenting the State Budget for 2023-24 in the Legislative Assembly. While the government increased existing rates of additional excise duty on Indian Made Foreign Liquor (IMFL) by 20 per cent on all 18 slabs, it also increased additional excise duty on beer from 175 per cent to 185 per cent.

«Even after the increase in excise rates, the price of liquor in our state would be lower when compared to the neighbouring states,» the Chief Minister said in the budget speech. With these hikes and effective enforcement and regulatory measures, the revenue collection target for the Excise Department for the year 2023-24 is fixed at Rs 36,000 crore, Siddaramaiah added.

The outgoing Bommai government, in its budget presented in February proposed its excise target at Rs 35,000 crore. In the budget session, seeking to highlight the Congress party's poll promises, Karnataka Chief Minister Siddaramaiah also said approximately Rs 52,000 crore would be spent annually for the five key poll 'guarantees' and it is expected to benefit 1.3 crore families.

Presenting the 2023-2024 budget, with an outlay of over Rs 3.27 lakh crore, in the Legislative Assembly, he said through the five 'guarantees' (poll promises), the government will be providing an average additional financial assistance of Rs 4,000 to Rs 5,000 a month to each household. The five 'guarantees' related to free bus travel for women, 200 units of free electricity, 10 kilograms of free foodgrains to the poor, Rs 2,000 for the woman head of the house and unemployment benefit of up to Rs 3,000.