Bhubaneswar: The Odisha Government on Saturday increased the prices of liquor by Rs 10 per bottle, impacting various brands across the board.
The rise in prices comes as a response to concerns regarding revenue losses, with officials stating that the price hike aims to stabilise the state’s excise revenue. “The government had taken this decision after gauging revenue shortfall and analysing the report from the Price Fixation Committee,” said Odisha Excise Minister Prithiviraj Harichandan.
From December 1, the business owners were worried about the latest hike. Most of them seem to be feeling that the prices may lead to a decrease in sales as it may attract substitutes or cut consumption of alcoholic products.
According to industry players, the new prices will be unaffordable to retailers and customers alike. Since the festive season is fast approaching, most business people fear that their sales will go down.
Nevertheless, some traders believe that a slight increase in price will not affect loyal customers’ purchase decisions on their favourite brands.
As the liquor market adjusts to the new pricing structure, consumers are advised to be prepared for the changes. The government continues to monitor the situation, and further adjustments may be considered depending on the revenue outcomes.
The increase in liquor prices is expected to contribute to the state’s revenue generation, aiming to offset previous losses while balancing consumer interests, said sources.
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