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Punjab sees 30 per cent rise in excise revenue

CHANDIGARH: The Punjab Cabinet has approved the annual Excise Policy for 2011-12 which would provide Rs.3190.49 crore as excise revenue, recording an increase of Rs.728 crore over the last year.

Talking to reporters after presiding over the Cabinet meeting on Tuesday, Deputy Chief Minister Sukhbir Singh Badal said the increase in revenue was expected to reach a record 30 per cent. He said it was decided to continue with the existing system of allotment of liquor vends through draw of lots in the presence of applicants, public and the Deputy Commissioners.

The Deputy Chief Minister further said that Rs.25 crore from the application money received for allotment of vends would be transferred to the State Sports Department for creation and strengthening of sports infrastructure.

Giving details of the policy, Financial Commissioner for Taxation S. S. Brar said the licence fee had been increased by Rs.10 per bottle. Simultaneously the quota for the current year had been increased approximately by 10 per cent over the last year.

Mr. Badal said that in order to curb smuggling of liquor, the Cabinet has decided to introduce security labels from April 1, 2011 onward. All liquor bottles of Punjab Medium Liquor (PML) and Indian Made Foreign Liquor (IMFL) to be sold in the State during 2011-12 shall be affixed with intaglio printed security labels with holograms. Stricter penalties would be imposed on retailers selling stock below the minimum retail price (MRP) prescribed by the department. Meanwhile, a release quoting an official spokesman claimed a 29.3 per cent increase in revenue collection in the first nine months of the current financial year as compared to last year. The Excise and Taxation Department collected Rs.9934.18 crore under different provisions. Value Added Tax levies reached Rs.7863.76 crore, recording an increase of 32 per cent.

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