Report-breaking bid: Liquor store in Qazigund Kashmir bought for Rs 5.23 Cr

Report-breaking bid: Liquor store in Qazigund Kashmir bought for Rs 5.23 Cr

The Jammu Kashmir admin achieved unprecedented success in its current public sale of liquor retailers, with revenues hovering to a document Rs 2280 crore in fiscal 12 months 2024.

This admin state’s revamped excise coverage applied three years in the past to streamline wine store auctions and enhance income era by way of alcohol.

The public sale noticed fierce bidding wars, resulting in the sale of a liquor store in Qazigund, Kashmir, for Rs 5.23 crore, setting a brand new document for the area,  report mentioned.

Equally, a store in Ramnagar, Udhampur, fetched Rs 3.41 crore.

“The overwhelming response to the public sale demonstrates market buoyancy and income potential,” mentioned an official, emphasizing the dedication to fostering a conducive enterprise surroundings and making certain transparency within the course of.

The success story is additional underscored by regular excise income development through the years: Rs 1320 crore in 2020, Rs 1353 crore in 2021, Rs 1777 crore in 2022, and Rs 1796 crore in 2023, culminating within the historic milestone of Rs 2280 crore in 2024.

Wanting forward, officers anticipate continued monetary development, with 38 liquor retailers but to be auctioned.

“We stay optimistic about income prospects. With prudent insurance policies, we intention to maximise income streams and contribute to Jammu Kashmir’s socio-economic growth,” authorities sources mentioned.

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