Import Duty on Beer, Wine Reduced in Madhya Pradesh

NATIONAL

The Group of Ministers (GoM) of the Madhya Pradesh state government agreed to reduce the import duty on beer and wine in the state. The decision was taken in a meeting of the ministerial group headed by Mishra. In the meeting, various issues related to the excise policy for 2022-23 were discussed.

The import duty was reduced with an aim to facilitate import and the adoption of clear and predictable excise policies that encourage businesses to expand.

GoM has decided that a proposal will be prepared and sent to the cabinet.

After the reduction of the import duty, the price will be reduced from ₹30 per bulk liter to ₹20 and on wine from ₹10 per proof liter to ₹5 per proof liter.

The reduction of import duty was based on the suggestions of the report jointly given by the Indian Council for Research on International Economic Relations (ICRIER) and law firm PLR Chambers. According to data compiled in the report, India’s total share in global exports of alcoholic beverages was only 0.27% in 2019 and the share in global imports was 0.75%.  This is because of the high tariff rates for alcoholic beverages.

 

   Important points for the exam:

  • The Group of Ministers (GoM) of the Madhya Pradesh state government agreed to reduce the import duty on beer and wine in the state.
  • The import duty was reduced with an aim to facilitate import and the adoption of clear and predictable excise policies that encourage businesses to expand.
  • After the reduction of the import duty, the price will be reduced from ₹30 per bulk liter to ₹20 and on wine from ₹10 per proof liter to ₹5 per proof liter.
  • The reduction of import duty was based on the suggestions of the report jointly given by the Indian Council for Research on International Economic Relations (ICRIER) and law firm PLR Chambers.
  • The decision was taken in a meeting of the ministerial group headed by Mishra and the GoM has decided that a proposal will be prepared and sent to the cabinet.

   Facts to know:

  • Capital of Madhya Pradesh: Bhopal
  • Chief Minister of Madhya Pradesh: Mr.Shivraj Singh Chouhan.
  • Governor of Madhya Pradesh: Mr.Mangubhai C.Patel.
  • Indore - the largest city in Madhya Pradesh is the cleanest city in India.
preparing for jeet

Preparing for Govt. Exams?

Here is you path to Jeet

View courses