Introduction
Haryana Government recently greenlit its new excise policy for the fiscal year 2024-25, signalling changes that will impact liquor prices across the state.
Approval by the Haryana Government
In a cabinet meeting held in Chandigarh, Chief Minister Nayab Singh Saini's government obtained the necessary approval from the Election Commission to implement the new excise policy. This move came after the Lok Sabha elections, demonstrating the regulatory hurdles that needed navigating.
Implementation Timeline
With the Lok Sabha elections unfolding in phases, the new policy is set to roll out on June 12, 2024, once the electoral process concludes. This timeline aligns with the state's agenda for the next fiscal year, promising changes in liquor regulations for the subsequent twelve months.
Anticipated Impact on Liquor Prices
While specifics regarding the extent of the increase remain undisclosed, the proposed hike in excise duty suggests an inevitable rise in liquor prices across Haryana. However, authorities assure that the adjustment will be marginal, offering some relief to consumers.
Auction of Liquor Retail Shops
As part of the new policy, the government plans to commence e-auctions for liquor retail shops from May 27, ensuring a transparent and competitive process for allocating these lucrative businesses.
Broadened Scope of Excise Duty
The new policy extends the ambit of excise duty to both Indian Made Foreign Liquor (IMFL) and country liquor, indicating a uniform rise in prices for various liquor categories. Moreover, the government intends to establish minimum retail selling rates for imported brands in the near future.
Enhanced Monitoring with QR Codes
Building upon previous initiatives, the Haryana Government aims to enhance liquor monitoring by extending the QR code-based track and trace system to imported foreign liquor. This technological intervention underscores the state's commitment to regulatory oversight and consumer protection.
Quotas and Regulations
For the fiscal year 2024-25, the state government has stipulated maximum basic quotas of 700 lakh proof litres for IMFL and 1,200 lakh proof litres for country liquor. These regulations aim to streamline production and distribution processes while maintaining quality standards.
Conclusion
As Haryana gears up to implement its new excise policy, stakeholders anticipate changes in liquor pricing dynamics, albeit with measured adjustments. The state's proactive measures, coupled with technological innovations, reflect a concerted effort to foster a transparent and regulated liquor market in the region.
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