In a significant development, the Punjab cabinet, led by Chief Minister Bhagwant Mann, granted approval to the excise policy for the fiscal year 2024-25 during a meeting on Saturday. The aim of the policy is to generate revenue exceeding Rs 10,000 crore from liquor sales.
Finance Minister Harpal Singh Cheema, addressing reporters post-meeting, highlighted that this marks the third excise policy under the Aam Aadmi Party (AAP) government. “For the first time, revenue is expected to surpass Rs 10,000 crore,” Cheema stated, contrasting it with the previous Congress regime’s figure of Rs 6,151 crore from liquor sales.
The novel excise policy introduces changes such as the allotment of liquor vends through a draw of lots. Cheema emphasized that this time, 232 groups, as opposed to the previous 172, will be involved in the process.
In addition to the excise policy, the cabinet approved a decision allowing colonisers to pay pending external development charges (EDC) in three instalments over a year and a half. These charges, collected by development authorities, contribute to enhancing infrastructure in proximity to projects.
