Demonetization hits liquor sales in Kerala
Written by : IANS | Sat, Nov 12, 2016, 05:34 AM
Thiruvananthapuram, Nov 12 : The demonetization of Rs 500 and Rs 1,000 currency notes has hit tipplers in Kerala, with liquor sales dropping leading to a consequent drop in its contribution to the state exchequer.
According to figures from the sole wholesaler of liquor and beer in the state - Kerala State Beverages Corporation, that has an average daily sales of close to Rs 29 crore, since Tuesday it has dipped to below Rs 20 crore.
Since Tuesday midnight after Rs 500 and Rs 1,000 denominations were pulled out by the government, the daily sale of liquor fell to Rs 18 crore on Wednesday, from Rs 29 crore the previous day.
On Thursday, the sales climbed to Rs 20.15 crore and on Friday it fell below the Rs 20 crore mark.
Taxes that come to the state exchequer from the sale of liquor and beer account for as high as 80 per cent of the total sales value.
With around 30 per cent drop in daily sales, the state will feel the heat more in raising funds.The total sales of KSBC for the month of October was Rs 1,030 crore.
According to studies, the profile of liquor users reveals that around 32.9 lakh people of the 3.34 crore population in the state consumes liquor, which includes 29.8 lakh men and 3.1 lakh women.
Around five lakh people consume liquor on a daily basis. Of this, around 83,851 people, including 1,043 women, are addicted to alcohol.