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Andhra Pradesh gears up for a sales high with new liquor policy
Andhra Pradesh gears up for a sales high with new liquor policy
新闻详情:最后更新时间: 2024-09-19 18:15:39
Mumbai: The new liquor policy introduced by the Andhra Pradesh's (AP) government will reverse sales decline over the past five years, making the state among the three top markets, said companies and analysts. While the new excise policy with tax slabs is still not released, the state's Cabinet on September 18 approved allowing private players to handle retail liquor sales and said it will lower product prices. The policy will also have a tenure of two years, promoting stability and predictability in the regulatory environment, which is likely to encourage greater participation from retailers. "There is an imminent need that basic prices are accurately evaluated before any adjustments to the MRP. For the review of basic prices, a tender Committee comprising a retired high court judge as chairperson and other members as per the existing procedure shall be established to oversee the rationalisation of basic prices within 90 days. To ensure smoother operations and a clearer understanding of tax obligations, the tax structure was simplified by reducing the number of tax heads from 10 to 6," the excise ministry's press note said. Andhra Pradesh's liquor market had halved over the past five years due to consistent price increases and favoured local players. India's beer industry body said they expect fresh interest in investments in the state worth thousands of crores as each brewery costs anywhere between ₹300 crore and ₹500 crore. "AP has seen massive erosion in beer sales of over 60% in the last five years. This has been primarily on account of the government owned retail outlet structure during the last five years wherein shops did not have the essential cold chain equipment such as chillers, coolers etc to serve cold beer. Further, the price of beer was pushed by tax increases to be the highest in the country," said Vinod Giri, director general of Brewers Association of India (BAI) adding that the new route to market with private retail has natural incentive to purchase, stock and sell beer appropriately. 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Gupta, Professor: Department of Finance and Business Economics, University of Delhi View Program The allocation of licences will be done through an online lottery, and four licence categories have been fixed with fees ranging from ₹50 lakh-85 lakh. The shop owners would get a profit of 20% on their sales and the government would grant licences to 12 premium shops with a tenure of five years with licence fees of ₹1 crore. The new excise policy which will come into effect from October 1, could lead to significant market share gains for larger players. To provide affordable options to low-income groups, the government has introduced low-priced liquor at ₹99 or less, aiming to curb the demand for illicit alcohol and national suppliers will be encouraged to introduce their brands at the price-point too. (You can now subscribe to our Economic Times WhatsApp channel )