Karnataka Budget 2017: Alcohol, movie ticket prices to go down

During the ongoing Budget session on Wednesday, the Karnataka Chief Minister Siddaramaiah announced that the additional excise duty on the liquor will be removed.

During the ongoing Budget session on Wednesday, the Karnataka Chief Minister Siddaramaiah announced that the additional excise duty on the liquor will be removed.

The state government has also abolished the Value Added tax (VAT) charges on wine, beer and hard liquor.

The new rules would be applicable from April 1.

After the announcement has been made, stocks of United Brewerie, United Spirits rose up to 2.75 per cent, Radico Khaitan and Globus Spirits rose more than 4 per cent in intra-day trade on Wednesday.

The new proposal would help in improving the demand for liquor in the state.

The administrative fee of Rs 2 per litre on export and Re 1 per litre on spirit (excluding ethanol) is suggested to be removed in the Budget.

In a relief to cinema lovers of the state, the government also proposed to curb movie ticket at just Rs 200 at all theatres and multiplexes, which would otherwise go up to Rs 500.

Inspired from the Amma canteens introduced by late Tamil Nadu CM J Jayalalithaa, the Chief Minister allocated Rs 100 crore for the setting up of 198 Namma Canteens in Bengaluru.

Breakfast at these canteens would be provided for Rs 5, lunch and dinner for Rs 10.