Maharashtra to be worst hit by highway liquor ban; Rs 7000 crore revenue hit
Maharashtra to be worst hit by highway liquor ban; Rs 7000 crore revenue hit
The Supreme Court’s decision to ban sale of liquor near all highways, which began on April 1, will impact the state of Maharashtra the most with approximately Rs 7,000 crore revenue hit, Bloomberg report on Monday quoted a CLSA report.
The report pointed out that as much as Rs 20,000 crore of revenue from liquor for state governments would be impacted.
United Spirits spiralled on Monday on BSE Sensex. The company’s shares were down 5.33% trading at Rs 2,057.50 per share on BSE Sensex intraday, its steepest monthly drop since November.
A report by Credit Suisse said that India Top Court’s order will have a 6-12 month impact as most liquor stores, consumers within cities will relocate and State governments have started reclassifying highways.
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