Liquor will be costlier due to budget announcement of increasing excise duty in Karnataka
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ANI
Presenting his government’s budget in the state assembly, Chief Minister Siddaramaiah said that the duty on foreign liquor made in India is being increased by up to 20 percent. This fee hike will be applicable to all 18 slabs.
Bangalore. With the announcement of increasing the excise duty on liquor and beer in the budget for the financial year 2023-24 presented in the Karnataka Legislative Assembly on Friday, these products are set to become costlier. Presenting his government’s budget in the state assembly, Chief Minister Siddaramaiah said that the duty on foreign liquor made in India is being increased by up to 20 percent. This fee hike will be applicable to all 18 slabs.
Siddaramaiah, who also holds the finance portfolio, also announced an increase in duty on beer from 175 per cent to 185 per cent in his budget speech. In his budget speech, he said, despite this increase in excise rates, the prices of liquor in our state will remain low as compared to the neighboring states. The Chief Minister said that with these budget measures, a target has been fixed for the revenue collection of the Excise Department to be Rs 36,000 crore in the current financial year.
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