Liquor to compensate for power losses

Oct 07, 2012 |

Hyderabad

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The state government has felt the pinch of the power crisis prevailing in the state. Its tax revenues have come down by 5 per cent in a month and the reason cited for this is the non-supply of adequate power to the industrial sector. The issue came to light during a meeting convened by Chief Minister N. Kiran Kumar Reddy on Saturday to review the state’s financial position. Finance minister Anam Ramanarayan Reddy and senior officials were also present in the meeting.

Sources said the government in now contemplating increasing liquor prices in order to recover the loss from tax revenues. The government believes that by increasing liquor prices, it can extract additional revenue in the form of excise tax and sales tax. The government plans to increase liquor rates by 10 to 12 per cent, which is expected to fetch a revenue of Rs 3,000 crore. The government is expected to earn a revenue of Rs 2,400 crore, while the balance Rs 600 crore will be shared by the AP Bewerages Corporation and the distilleries. Sources said that AP Bewerages Corporation and the 32 distilleries in the state are demanding increase in liquor prices by 15 per cent.

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