STOCK MARKET BSE NSE

Excise revenues bring cheer to Karnataka in Q1

Decision to keep liquor stores open for a few hours during lockdown seems to have helped

Published: 03rd July 2021 06:02 AM  |   Last Updated: 03rd July 2021 06:02 AM   |  A+A-

By Express News Service

BENGALURU: Things are looking up for State’s revenues, at least on the excise front. While a nationwide complete lockdown hit excise revenues hard last year during the first quarter, Karnataka has achieved nearly its budget estimated targets this time around. In the first quarter of this fiscal year — between April and June — it has received Rs 5,954.07 crore in excise revenue, which is Rs 2,122.90 crore more than the corresponding period last year – an increase of around 55 per cent.

The State Government’s decision to keep liquor stores open for a few hours in the day during the lockdown seems to have helped mop up the revenues that were otherwise sure to take a beating yet again.
The budget estimate for excise revenue for 2021-22 is Rs 24,580 crore. In the last three months, the state has achieved 24.2 per cent of that target. During this time last year, excise revenue made up only 16.8 per cent of estimates.

The Excise Department on Friday shared the numbers along with the source of revenue. It revealed that 154.19 lakh carton boxes (CBs) of Indian Made Liquor were sold in the first quarter, while 45.38 lakh CBs of beer were sold. April saw the highest sales of IML as well as beer. 

ACTION PLAN FOR SCS, STS GETS GOVT APPROVAL
Bengaluru:
The Karnataka State Development Council meeting on Friday approved the action plan for works to be carried out under the Scheduled Castes sub-plan and Scheduled Tribe sub-plan (SCSP/TSP). Of the total budget outlay of Rs 26,005.01 crore for the sub-plan, Rs 18,331.54 crore has been allocated for the development of Scheduled Castes and Rs 7,673.47 crore for Scheduled Tribes. 



Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp