Andhra Pradesh's successful sale of liquor bonds to ensure stability in excise regime
News: As per media sources, the Andhra Pradesh government has committed that it will not impose any total or partial prohibition on alcoholic beverages, post-successful market response to its subscription of liquor bonds.
Views: The state government had proposed to mobilise Rs 2000 crore via NCDs. However, it was oversubscribed five times (9.5% yield). If the state government imposes a prohibition on sale or consumption of liquor, it will ensure premature redemption of all outstanding bonds within three months of imposition.
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