: Delhi govt to get Rs 10,000 cr revenue from bidding of liquor shops #FinanceIndia #StockMarketNEWS #Business PTI New Delhi Delhi Deputy Chief Minister Manish Sisodia on Wednesday said the city

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Delhi govt to get Rs 10,000 cr revenue from bidding of liquor shops #FinanceIndia #StockMarketNEWS #Business
PTI

New Delhi

Delhi Deputy Chief Minister Manish Sisodia on Wednesday said the city government has earned 23 per cent less revenue in the current financial year, but it will gain Rs 10,000 crore from bidding of liquor shops under the new excise policy.

“We will get Rs 10,000 crore revenue from bidding of liquor shops under the new excise policy. We have received nearly 225 bids for 32 zones of the city.

“This will be around Rs 3,500 crore extra revenue from what we got in 2019-20. In financial year 2019-20, the government had collected a revenue of Rs 6,300 crore from bidding of liquor shops,??? Sisodia said.

He said the extra revenue is a result of reforms in the excise policy as earlier such revenue was stolen.

The deputy CM also said that the AAP-led Delhi government earned 41 per cent less revenue last year due to COVID-19 pandemic.

“Due to coronavirus-induced lockdown, economic activities are less so tax collection is low. Under value-added tax (VAT), the government earned 25 per cent less revenue in the current fiscal, while in excise it collected 30 per cent less revenue,??? he said.

The minister added that collections in stamp duty and motor vehicle taxes are also down by 16 per cent and 19 per cent, respectively, for the current fiscal.
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