This Happy New Year has come as the bearer of bad news for people across Maharashtra. According to reports, the Maharashtra government has hiked the excise duty on IMFL (Indian Made Foreign Liquor) by 20%
Prices for IMFL will rise by Rs 20- Rs 30 per litre as part of the state government's measures to meet the excise target of Rs 14,343 crores for 2018-19. The last time this happened was in 2013!
The massive hike in excise duty on IMFL came into play after Maharashtra Cheif Minister Devendra Fadnavis proposed that they reduce the surcharge on Petrol and Diesel to subside the discontent among the citizens of the state.
So they plan to reduce fuel prices by increasing the price of the fuel that literally drives thousands of people in the state! The government feels that this change will help in improving the financial situation of the state.
In conversation with TOI, a senior bureaucrat said that the proposal has been approved at all levels and is awaiting clearance of the excise minister Chandrashekar Bawankule. Once the proposal is accepted, the state will be able to mobilise an additional Rs 700 crore per year with the help of the excise duty.