*Maha Alcohol Overhaul* 🚨🥃🍻 The Maharashtra cabinet has approved a _*hike in excise duty on Indian Made Foreign Liquor (IMFL) and country liquor*_ while simultaneously introducing a _*new category of "Maharashtra Made Liquor" (MML)*_. 👀 _*These changes are projected to generate an additional ₹14,000 crore annually in excise duties*_ and related taxes for the state exchequer. 💰 *IMFL Excise Duty Hike* 💸🍺💰 The excise duty on IMFL with a declared _*manufacturing cost up to ₹260 per bulk litre has been significantly increased from 3x to 4.5x the manufacturing cost*_. This hike will surge the retail prices by over 50%. 🥃😳 *Introduction of Maharashtra Made Liquor (MML)* 🚨👀 A pivotal aspect of this policy change is the _*creation of a new category: grain-based Maharashtra Made Liquor (MML)*_. This category is exclusively for liquor produced by local manufacturers within Maharashtra and requires new brand registrations. 🍻📊 _*Revised Minimum Retail Prices (180 ml bottles)*_: - Country liquor: ₹80 - Maharashtra Made Liquor (MML): ₹148 - Indian Made Foreign Liquor (IMFL): ₹205 - Premium foreign liquor: ₹360 _*Maharashtra is already one of the most highly taxed states for alcoholic beverages*_, and further hikes could lead to increased smuggling from neighbouring states with lower taxes, for now we've got the alcohol stock down ❌😕📉