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UP government announces excise policy

News: As per The Print, the Government of Uttar Pradesh has announced its excise policy for year FY23, which is targeting a revenue of Rs.41000 crore, compared to current year target of Rs.34500 crore (a growth of 19%). The policy aims to provide liquor at reasonable price and attracting investments into state.

Views: Radico has 30% market share in the state, followed by Pernod Ricard (23-25%) and USL The state government also expects players to include state grown fruits such as Mango,paddy, maize and potato in their liquor and also Beer players to procure wheat and barley from the state farmers.

Impact: Positive