Karnataka’s revenue targets will be met by end of the fiscal: V Yashavantha
V Yashavantha, Excise Commissioner, Karnataka, talks about the revenue target of the state and liquor price hike among others during a candid chat with Zee Business.
V Yashavantha, Excise Commissioner, Karnataka, talks about the revenue target of the state and liquor price hike among others during a candid chat with Swati Khandelwal of Zee Business. Excerpts:
Q: What is the revenue target of Karnataka for the financial year 2018-19 and are you on track?
A: Yes, we are on track. We had a target of Rs 19,750-crore and have collected almost Rs 15,000-crore by December 31, 2018. This signifies that we will be able to achieve it by end of the financial year.
Q: Liquor prices have been hiked twice in the state, April 2018 and August 2018, and there are reports that there can be another hike. Is it going to be in line to the budget recommendations of the year?
A: This revision of liquor rates is generally announced during the budget.
Q: Karnataka is one of the leading consumers of premium liquor and beer, and was able to collect a record Rs 70 crore as revenue on December 31, 2018.
A: See, it is a normal thing during Christmas and New Year and we expect that the revenue will go up. But, the government will take a decision in the revision of the prices during the budget.
Q: Talk about the rates in the neighbouring states?
A: Our prices are on a lower side when compared with the prices of the neighbouring states.
Q: When the budget will be announced?
A: Likely in February or the first week of March.
Watch this Zee Business video
— Zee Business (@ZeeBusiness) January 3, 2019
Q: Do you think that consideration of any demand to tamper the liquor price hike will impact your revenue target?
A: I don’t see any such event because our liquor prices are comparatively cheaper than our neighbouring states. Thus, can’t see any impact on that.
Q: You have collected revenue of Rs 15,000-crore from the target of Rs 19,500-crore. How will you achieve the remaining Rs 4,500 crores in the next three months?
A: We have a target of collecting revenue of Rs 1,500 crores every month and this will help us in achieving the target given by the government.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.