COMBINED EXCISE POLICY
Karnataka liquor volumes flat in H1 as beer gets three cheers
Karnataka observed significant growth in beer sales, rising by 41% in the first half of the fiscal year. Indian-made liquor sales, however, remained stable with a mere 1% increase during the same period. Revenue from beer and Indian-made liquor combined reached Rs 22,192 crore, reflecting a 13% growth year-on-year. Domestic liquor manufacturers had concerns regarding the regulatory framework that affected consumption patterns.
India’s growth gets a government lift, Bernstein flags hidden costs
India's economic outcomes show distortions, not solely free-market forces at play. Company earnings and asset valuations are influenced by government interventions and incentives. Production Linked Incentive schemes support profitability in manufacturing sectors. Rural spending persists due to direct government transfers, not productivity gains. Policy interventions reshape outcomes, making growth seem stronger than it is.
India's 'BBB-' rating unchanged: Fitch cites energy shocks, fiscal weakness, but praises growth
Fitch Ratings kept India's sovereign credit rating at BBB- with a stable outlook. Robust growth and solid external finances balance fiscal weaknesses and energy shocks. India's macroeconomic stability and policy credibility could underpin continued robust growth. High deficits and debt constrain the rating, despite recent fiscal consolidation efforts. The agency forecasts 6.4% GDP growth for India over the medium term.
Petrol, diesel margins back to above pre-conflict levels: Report
State-run oil companies are poised for improved profitability as falling crude prices boost fuel marketing margins. While recent government excise duty cuts have aided this recovery, rising debt levels and potential tax increases pose risks to long-term earnings. Analysts anticipate better performance from the second quarter onwards, especially if oil prices remain below $80 per barrel, with BPCL and IOC seen as preferred investments.
Karnataka's liquor deregulation: Why United Spirits, United Breweries & Allied Blenders are Dalal Street's new favourites
Karnataka is poised for a significant policy shift in its liquor sector, moving towards deregulation. This move is expected to benefit major listed alcobev players like United Spirits and United Breweries by fostering innovation and marketing capabilities. The proposed excise framework, linking taxation to alcohol content, is anticipated to boost beer consumption and drive volume growth for the state.
Himachal Pradesh eyes toll reforms to raise revenue; Mukesh Agnihotri seeks PM backing
Himachal Pradesh is boosting its income through new rules for liquor shops, toll collection, and vehicle entry fees. These changes aim to collect more revenue after a key grant ended. The government is using technology for better collection and transparency. Reforms in excise and toll collection are now in place.
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ITC, Godfrey Phillips and other tobacco stocks fall up to 5% as cigarette prices rise after excise duty hike
ITC, Godfrey Phillips and VST Industries fell sharply on Monday after cigarette prices jumped following a steep excise duty hike effective February 1. Retail prices rose by Rs 22–25 per pack as taxes increased sharply, raising concerns over demand pressure, margin impact and a potential rise in illicit cigarette trade.
ITC investors alert: What does a hike in statutory tobacco taxation in Budget fineprint reveal
ITC shares fell nearly 3% during the Budget-day session as investors reacted to the December cigarette tax overhaul kicking in from February 1 and a statutory increase in NCCD rates for tobacco products. While the effective duty remains unchanged for now, the move has added policy uncertainty and pressured sentiment.
Raise a glass at 21? Delhi considers dropping beer-drinking age from 25
The Delhi government is considering lowering the minimum age for beer consumption from 25 to 21, aligning with neighboring states and potentially boosting state revenue by curbing black-market sales.
Gurgaon's Bristol Chowk becomes the costliest liquor zone with license allotment at nearly Rs 100 crore
Bristol Chowk's liquor license fetched a record Rs 98.6 crores in Gurugram. This amount is almost double last year's earnings. G-Town Wines secured the bid for the West excise zone. DLF-3 and Shankar Chowk also saw significant bids. The government earned Rs 1,270 crore from Gurgaon East zones. New excise policy changes include closing hour adjustments and restrictions on ahatas.
BJP following 'vinash' model, stamping out opposition parties, toppling their govts: Kejriwal
Speaking in the Delhi Assembly over the 2024-25 budget of the AAP government tabled in the House recently, Chief Minister Arvind Kejriwal said it was such a good budget that people are now saying that the AAP-Congress combine will win all seven Lok Sabha seats in Delhi.
Government to promote fruit wine industry in Meghalaya: Chief Minister Conrad K Sangma
Meghalaya Chief Minister Conrad K. Sangma said that a robust policy has been put in place to promote a thriving ecosystem that links tourism, agriculture, entrepreneurship, and job creation through the promotion of local fruit winemakers.
Spirits down at Delhi restaurants and bars
The beer shortage comes at a time when demand is expected to exceed well over pre-pandemic numbers, with a massive surge in dining-out, hot summer season, and proliferation of new craft variants and flavours led by brands like Bira 91 and Simba.
Delhi CM Arvind Kejriwal skips event attended by Lieutenant Governor
"After absenting from the scheduled weekly meeting with the LG on Friday citing ill health, CM Arvind Kejriwal today skipped a pre decided combined programme of tree plantation at Bhatti mines in the, again due to ill health," said LG office sources.
"Will Sisodia too lose memory?" Anurag Thakur attacks Kejriwal for setting "new records of corruption"
"You've sheltered the corrupt and the way in which you lied on TV yesterday and couldn't respond to any of BJP's allegations shows that LG's recommendation to MHA holds ground. Corrupt ministers should resign. A corrupt man like you has no right to be in power," Union Minister Anurag Thakur told ANI.
UP poll outcome: Fasten your seat belt for steep volatility ahead
Investors would watch out for any sharp drop in seats or vote share but added that the reaction will get over in 2-3 days and the market will shift focus to other key triggers.
Risks to inflation outlook up; RBI ability to hold on to accommodative stance to face challenge: Sonal Varma, Nomura
“If inflation continues to move up and becomes more entrenched, then there will also be a negative impact on real consumer incomes. It can impact corporate profitability as well. It is a fine balance and at the margin, the role for monetary policy actually is lesser primarily because the concerns around inflation are rising.”
Overweight ITC, target Rs 360: Morgan Stanley
The brokerage has set a one-year horizon for the stock to hit the target price.
RBI unlikely to raise rates: DBS
“The combination of fiscal challenges and rising oil prices makes the RBI’s policy path a tricky one this year”
RBI unlikely to raise rates: DBS
Growth has largely bottomed out, it said. But India has yet to benefit from the synchronised pick-up in global demand.
need2know: Five macro triggers that may matter for market today
Here's a look at five macro triggers that are likely to impact the market today
33 solar parks to be set up across India
As many as 33 solar parks will be set up across the country as part of an effort to reduce the production cost of solar power.
Madhya Pradesh government to provide free land for Analog Fabs
"We took inputs from the industry during the global investor summit on November 9 and within three months finalized the policy," Hari Ranjan Rao said.
Union Budget 2011: MF industry will benefit from move to further open equity markets to foreign investors, says IDBI Mutual Fund
The Union Budget 2011-12 can be viewed as market neutral but growth oriented, with a positive bias.
Budget 2011: Excise hike of 2% likely in FMCG, auto; says SMC Global Securities
SMC Global Securities Ltd, in its forecast for the 2010-11 Budget, said that service tax is expected to be hiked to 12% from the current level of 10%.
End of mega power benefits to yield little for Indian parts cos
The government’s move to levy duty on import of power equipment by scrapping mega power policy may also lead to 10% duty on manufacturing of local power parts.
Union Budget 2009-10: Steadfast on tax reforms path
The single most important reform on the indirect tax side is the introduction of the Goods and Services Tax (GST).
Budget may see big-ticket tax relief for oil explorers, refiners
The oil sector may get substantial tax breaks in the 2008 Budget. While exploration firms are likely to be exempted from service tax, refiners may gain from an excise duty rejig.
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