13.1 C
New Delhi
Saturday, December 21, 2024

Maharashtra sees record-breaking 23% surge in alcohol sales, resulting in a 25% rise in revenue

Published:

Alcohol consumption in Maharashtra saw a 23% jump in sales between 2021-22 and 2022-23, as per data from the excise department. Despite a rise in prices, senior officials have noted that this surge marks the biggest year-on-year increase seen in several decades.

A significant boost of nearly 25% in revenue was recorded by the state through a record-breaking excise haul of INR 21,550 crore. This was a result of the surge in alcohol consumption between 2021-22 and 2022-23 in Maharashtra.

Officials have stated that the impressive performance of beer and wine can be attributed to a liberalized policy that aims to increase their sales.

The regions of Nagpur, Aurangabad, and Kolhapur have witnessed the most remarkable surge in revenue, surpassing the traditionally profitable Mumbai-Thane, Pune, and Nashik regions. Nagpur recorded the highest growth with a 42.9% increase in revenue, followed by Aurangabad and Kolhapur with 29.7% and 28.5% respectively. On the other hand, Mumbai-Thane, Pune, and Nashik have experienced an annual increase of approximately 23% in excise revenue.

Sumit Chawala, who serves as the Vice President of the Association of Progressive Retail Liquor Vendors (APRLV), has stated that the state’s policy to liberalize the sale of beer and wine, particularly in Nagpur, Kolhapur, and Aurangabad, has enhanced the availability of these beverages. As a result, there has been an increase in consumption as well as revenue.

According to Chawala, a significant increase in sales can be expected in the Mumbai-Thane, Nashik, and Pune regions if the state eventually reduces taxes on beer.

SnackTeam
SnackTeamhttps://snackfax.com
SnackTeam is a specialised group of editorial staff motivated to improve the lives of individuals and society. The team intends to bring the most authentic, well-researched and dependable content for you and your loved ones every day.
Subscribe to our Newsletter!

Stay updated on the latest news, trends, and top startups with Snackfax's daily newsletter!

Related articles

Recent articles