Chandigarh, Feb 22 (PTI) Punjab today appproved a newexcise policy that targets 30 percent revenue growth for theyear 2011-2012.
The state government in a cabinet meeting held here todayapproved the excise policy with an increase of Rs 728 croreover revenue of Rs 2,461.78 crore in 2010-11.
It said its revenue from excise duty on liquor will surgeby 30 per cent to Rs 3,190.49 crore for the next fiscal.
The licence fee on Punjab Medium Liquor (PML) and IndianMade Foreign Liquor (IMFL) has been increased by Rs 10 perbottle while the quota for the current year has been increasedapprox by 10 per cent over the last year, said SS Brar,Financial Commissioner, Taxation.
Further, the Deputy Chief Minister Sukhbir Singh Bada ina release issued here said the total quota for next fiscalwill be 1,290 lakh proof litres, out of which 884 lakh prooflitres will be of PML and 406 lakh proof litres will be ofIMFL.
This amounts to about 60 lakh cases of IMFL and 1.77crore cases of PML.
Bada further informed that to meet unforeseen demand ofPML