Liquor prices hiked in TN

In a recent development, liquor prices in Tamil Nadu are set to rise starting February 1, following an announcement by the Tamil Nadu State Marketing Corporation (Tasmac). The decision, made on Saturday, involves an increase in sales tax and excise duty, resulting in higher costs for consumers across various categories of liquor. As per the new pricing structure, a quarter bottle of ordinary and medium-range liquor will see an increase of ₹10, while a half bottle will cost ₹20 more, and a full bottle will be ₹40 more expensive. Premium liquor is set to become dearer by ₹20 for a quarter bottle, ₹40 for a half bottle, and ₹80 for a full bottle. Additionally, all brands of beer will see a price hike of ₹10 per bottle. Tasmac, which holds a monopoly on liquor sales in the state, aims to channel the additional revenue generated through the price hike directly to the state government. The decision to raise liquor prices comes in the form of higher sales tax and excise duty, with the intention of contributing to the state’s revenue stream. Notably, this marks the first price hike for Indian Made Foreign Liquor (IMFL) in nearly two years. Tasmac had previously increased prices for imported liquor in September of the previous year. For the fiscal year 2022-23, the state government’s revenue from Tasmac amounted to ₹44,099 crore, underlining the significant contribution of liquor sales to the state’s financial resources.