Bangalore: Karnataka state government has decided to increase the price of Indian made Foreign Liquor (IMFL) and beer. Karnataka Chief Minister Siddaramaiah said this while presenting the Budget for FY 2024-25.
Siddaramaiah announced a hike in the excise duty on alcohol to boost the sales of Indian-made liquor. Liquor sales is a significant source of revenue for the state treasury.
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This is the second time in seven months that the Congress-led government in Karnataka has opted to raise beer duties. In its first budget presented on July 7, 2023 the Siddaramaiah government had increased the additional excise duty on beer by 20 per cent.
In the first budget the Congress government increased duty on all 18 slabs of Indian Made Liquor (IML) by 20% and on beer by 10 %. The revenue target for the excise department’s target was also hiked to Rs 36,000 crore.
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