25 More Liquor Shops Disposed Of In Madhya Pradesh; 267 Shops Remain For Auction
The Excise Department disposed of 25 liquor shops on Friday with a reserve value of Rs 162.21 crore, fetching Rs 106.05 crore, over 35% below reserve price. So far, 3,286 of 3,553 shops have been auctioned in Madhya Pradesh. With 267 shops remaining, the department faces a potential revenue shortfall against its Rs 18,780 crore target.
25 More Liquor Shops Disposed Of In Madhya Pradesh; 267 Shops Remain For Auction | Canva
Bhopal (Madhya Pradesh): As many as 25 liquor shops were disposed of by the excise department on Friday. Their reserve value was Rs 162.21 crore, while revenue received from them stood at Rs 106.05 crore. The shops were disposed of at over 35% below the reserve price.
Notably, there are 3,553 liquor shops in the state, of which 3,286 have been disposed of so far.
Last year’s annual value of the shops was Rs16,627 crore, while their reserve value was Rs 19,952 crore (+20%). Revenue received from shops disposed of up to April 10 is Rs 17,435.3 crore (+18.95%).
Now, only 267 shops remain for disposal in the state. The reserve value of the remaining shops is Rs 2,374 crore. The hold offers for these shops stand at Rs 1,048 crore. The minimum revenue received, including offers, is Rs 18,483 crore (+11.16%).
The expected collection target set by the Finance Department is Rs 18,780 crore. The shortfall as of April 10 stood at Rs 1,345 crore. Considering the hold amount of Rs 1,048 crore, the shortfall is pegged at Rs 297 crore.
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