BBN register 59% hike in revenue

Solan, March 18

The State Taxes and Excise Department (STED) yesterday earned a 59.66 per cent hike in its revenue vis-à-vis last year by auctioning seven units of liquor vends in the Baddi-Barotiwala-Nalagarh area.

As against the reserve price of Rs 88.31 crore, the vends were allotted for Rs 126.39 crore, fetching a hike of 43.12 per cent. The liquor vends were allotted for merely Rs 79.16 crore last year.

“The exceptional hike in the revenue is being attributed to the new excise policy where fresh allotments are being done this year. Since the vends allotted four years ago were renewed at a nominal hike every year, the growth in revenue was much less,” opined STED officials.

While four units were allotted through bids, three were finalised on the basis of tenders. Bidders deposited 25 to 40 per cent cash on Friday.

The allotments were held under the chairmanship of Zaffar Iqbal, Additional DC, Vinay Kumar, Collector and DC, STED, Devkant Prakash Khachi, observer and DC, STED, at Baddi.