Business News

Jharkhand lowers alcohol pricing to increase revenue

RANCHI: Prices of Indian-Made Foreign Liquor (IMFL), as well as beer across different brands, have been slashed by Rs 20 as the government plans to increase revenue with the excise department currently short of Rs 800 crore revenue in its target collection this fiscal.

Jharkhand State Beverages Corporation Limited (JSBCL) has already asked manufacturers to slash export depot price (EDP), officials engaged with liquor trade said on Saturday, even as some brands cut the prices.

Subodh Jaiswal, secretary of the Jharkhand Liquor Traders Association (JLTA) said prices of two popular brands of whiskey have already been reduced by Rs 20. “On January 13, JSBCL asked all brands to reduce their EDP and as a result, companies will tend to slash their prices soon. Some brands have reduced and others are expected to follow soon,” he said.

Jaiswal added that some beer brands too have witnessed dip. “A beer sold at Rs 190 now will be sold at Rs 160. We have requested the excise department to put up information boards at shops to curb overpricing by companies or retailers,” said Jaiswal.



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