The West Bengal government witnessed a substantial boost in state excise income, reaching Rs 600 crore, from the sale of liquor during the four-day Durga Puja festivities in the state.
Revenue Surge and Financial Impact
Following the conclusion of the Durga Puja celebrations, the state’s finance department revealed a remarkable state excise collection of Rs 600 crore, marking a notable financial gain for the state exchequer.
Exceeding Expectations
State finance department officials were notably pleased with the outcome, especially considering that Monday marked the first working day post the extended Durga Puja vacation. The calculations from liquor sales during this festive period contributed significantly to the elation among officials.
Excise Collection Trends and Projections
The state excise collection has already reached approximately Rs 8,000 crore, amounting to around 45% of the targeted collection of Rs 17,921.56 crore outlined in the budget estimates for 2023-24. Officials anticipate continued impressive liquor and beer sales during the upcoming Kali Puja, Diwali, and December festivities.
Optimistic Outlook
A state finance department official expressed optimism, stating that the sales trend during Durga Puja surpassed previous records. This trend indicates a high likelihood of exceeding the targeted state excise collection by the end of the current fiscal year.
Financial Targets and Growth Projections
For the financial year 2023-24, the state aims to increase excise collection to Rs 17,921.56 crore, marking a 19.41% rise from the revised estimates of Rs 15,001.39 crore for 2022-23. Additionally, the state’s own tax revenue is projected to increase by 12.69% to Rs 88,595.54 crore from the revised estimates of Rs 79,5000 crore for 2022-23.
The surge in liquor sales during festive periods plays a significant role in bolstering state revenues, reflecting the economic impact of cultural celebrations in West Bengal.
Ben Müller
