Is Karnataka government considering third liquor price hike within one year?
The Karnataka government is considering a third hike in liquor prices this year, causing distress among consumers. Popular brands like Old Monk and 8 PM Choice are expected to see increases. Earlier proposals were delayed due to elections, but with their conclusion, approval is anticipated, potentially generating an extra Rs 500 crore annually for the state.
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FollowThe Karnataka government is contemplating another hike in liquor prices, marking the third increase in a single year. This move comes amidst a series of price adjustments that have left alcohol consumers reeling. Traditionally, the Excise Department revises liquor prices annually. However, in recent times, the department has resorted to multiple revisions within a single year, causing distress among alcohol consumers.
Brands like Old Monk, MC Rum, BP, OT, and 8 PM Choice, popular among enthusiasts, are expected to witness a surge in prices once again.
Earlier this year, the Excise Department proposed a hike ranging from Rs 2 to Rs 3 per brand, seeking approval from the government. However, the proposal was temporarily halted due to the Lok Sabha elections.
With the elections concluded, there's speculation that the government may soon give the green light to the Excise Department's proposal. If approved, the revision is anticipated to generate an additional revenue of Rs 500 crore annually for the state exchequer.
Officials from the Excise Department anticipate a decision from the government within the next week. Should the proposal get the nod, consumers can brace themselves for higher prices on their favourite liquor brands even before indulging in their next drink.
The repeated hikes in liquor prices have sparked concerns among consumers, who now face the prospect of bearing the brunt of escalating costs.
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