Punjab cabinet approves new excise policy, expects 40 pc more revenue than last fiscal

Chandigarh (Punjab) [India], June 8 (ANI): To keep a stringent check on the smuggling of liquor from neighbouring states in Punjab, the state cabinet led by Chief Minister Bhagwant Mann approved the new Excise Policy here at the Punjab Civil Secretariat on Wednesday.
The state government is expecting revenue generation worth Rs 9,647.85 crore which is 40 per cent more than the previous year's fiscal.
"The policy strives to keep a stringent check over smuggling of liquor from the neighbouring state through extensive enforcement and by incorporating new technological measures. The excise policy aims to collect Rs 9,647.85 crore in the year 2022-23. This policy shall be applicable for a period of nine months i.e. 1 July 2022 to 31 March 2023," a spokesperson at Chief Minister's Office said.
According to an official statement, in addition to the already existing police force with the Excise department, the cabinet also approved the allotment of two special battalions of Police to them for keeping an effective vigil over the excise duty pilferage.
"This will also help in keeping a better check over the supply of illicit liquor into Punjab from the neighbouring states," the statement said.
As per the Punjab CMO, the new Excise Policy will also aim at breaking the nexus of the mafia involved in the trade of liquor.
"Accordingly, the manufacturer, wholesaler and the retailer shall be at an arm's length distance from each other. They shall be completely isolated from each other with no common stakeholder between the above entities," it said.
The New Excise policy stipulates to tap the actual potential of the liquor trade by allotting 177 groups through a free fair and transparent manner of electronic tendering (e-tendering).
"The general size of the group shall be around 30 crores and there shall be 6,378 vends in the state of Punjab. Excise Duty on every liquor except Punjab Medium Liquor (PML) shall levy a charge of 1 per cent of the wholesale price. On the same pattern, the assessed fee of Imported liquor (IFL) shall also be charged at the rate of 1 per cent of the wholesale price. The prices of liquor shall now be almost at par with the neighbouring states," the CMO announced.
To encourage capital investment and to increase the employment capability in the state, provisions for a new Distillery license and Brewery license have been made in the policy. Further, a new license for the production of malt spirit has also been introduced in the state. This has been done to encourage crop diversification and to provide better remuneration to the farmers. (ANI)