Karnataka Budget 2023: Liquor prices rise; Excise duty increased by 20%

Karnataka CM Siddaramaiah presented the state budget, announcing a 20% increase in liquor rates and higher excise duties. Five guarantee schemes were introduced, including free bus service for women and financial assistance for households, costing Rs. 52,000 crores annually.

The Karnataka State Budget 2023, presented by state Chief Minister Siddaramaiah on Friday, began exactly at 12 pm, has stated that will be a significant increase in liquor rates of Indian Made liquors (IML). The increase is by 20 per cent on all the slabs.

The excise duty on beer will be increased from 175% to 185%. He then noted that the prices of liquor in Karnataka state will be comparatively lower than in the neighbouring states. With the increase in slabs over liquor and excise duties, the Excise department got a target to collect revenue of 36,000 crores for the year 2023-24.

Five guarantees

The Congress government had ordered five guarantee schemes for the welfare of the state. The schemes are:

* ‘Shakti’ Yojana, announcing free bus service to the women in Karnataka. 

* ‘Gruha Jyoti’ -- A maximum of 200 units of electricity will be provided free to households.

* ‘Anna bhagya’ -- The poor will be provided with 10 kg of rice every month

* ‘Gruha lakshmi' -- A woman head of the household will ge 2000 per month.

* ‘Yuva nidhi’ - The unemployed youngsters to allowance every month.

CM Siddaramaiah announced that all five guarantee schemes will cost Rs 52,000 crore to the state in a year. About 1.30 crore families are expected to benefit from these five schemes. This means the govt will be providing average financial assistance of Rs 4000 and Rs 5000 monthly to the households. Collectively about Rs 60,000 per year will be provided to every household. The Chief Minister, who presented his 14th Budget, said that Karnataka had strived for centuries to take forward both development and social justice together. It has strived to be developed from the ages of Basavanna and Nalavadi Krishnaraja Wadiyar, he said, adding that the budget's vision was to deliver fruitfulness and bring prosperity to the state.