Dry Run to Cripple State’s Finances

Published: 23rd August 2014 06:00 AM  |   Last Updated: 23rd August 2014 12:00 AM   |  A+A-

KOCHI: The state is heading towards financial crisis as the revenue from liquor sales, which contributed a substantial chunk to the exchequer, would dry up eventually. The contribution of the Kerala State Beverages Corporation to the exchequer stood at Rs 7,241 crore in the last fiscal which is 15 pc of the state’s revenue up from Rs 1,025 crore in 2000-2001. If the sales of liquor from bars and other outlets are taken into account, it is reckoned that liquor sales contribute 20-25 pc of the state’s finances. The state’s finances which has to grow at the rate of 30 pc was rising by just 12 per cent and now it cannot extend beyond this December, former Finance Minister T M Thomas Isaac said.

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