The production of liquor in the country has increased by about 23.8 percent during 2015-16 to 2018-19. The study said that the sector has given employment to about 15 lakh people.
Most of the people of Uttar Pradesh drink alcohol in the country.
After Uttar Pradesh, West Bengal ranks second in terms of the number of people who drink alcohol. This fact has come to the fore in a joint study by economic research agency ICRIER and legal consultancy firm PLR Chambers. According to the study, there are about 140 million people in West Bengal who drink alcohol. It is one of the three major revenue earning regions of the state.
The study said that the price model in the state has been changed recently. It is denominated ex-distillery price (EDP) below the free market. There has been an increase in taxes on liquor which is a major concern for the industry. The study said that the steep hike in retail prices has led to a significant decline in the sale of Indigenous Foreign Liquor (IMFL) in the state.
excise duty hiked
The report said that although the method of calculation is lower EDP, the excise duty has been increased. The issue needs to be reviewed from the point of view of consumer response to the change in price. The report said that India is the world’s fastest growing market for alcoholic beverages. The size of this market in 2020 was $52.5 billion. The liquor market is projected to grow by 6.8 percent annually from 2020 to 2023.
Liquor production increased by about 24 percent
The production of liquor in the country has increased by about 23.8 percent during 2015-16 to 2018-19. The study said that the sector has given employment to about 15 lakh people. The sales turnover of this sector in 2019 was $ 48.8 billion.
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