Hefty corona cess by states halves liquor sales: CIABC


New Delhi, Aug 2 | The Confederation of Indian Alcoholic Beverage Companies (CIABC) has said liquor sales have declined more than half in states that imposed heavy corona cess to raise revenue.

“The idea of various state governments to quickly make up for revenue deficit due to lockdown through heavy taxation on sale of liquor has back-fired,” the CIABC said here on Sunday.

According to data collated by the CIABC, states that imposed no or moderate Covid taxes (0-15 per cent) saw 16 per cent sales decline. But the states that levied over 50 per cent Corona cess saw 59 per cent sales fall.

Comparing May and June data, when liquor trade was reopened after six weeks of closure of liquor vends, the CIABC categorised states into three categories — states that imposed corona cess up to 15 per cent, those 15-50 per cent and others over 50 per cent.

CIABC Director General Vinod Giri said comparison of data for May and June with the year-ago months showed alcohol sales in the first category states fell 16 per cent, in the second 34 per cent and in the third 59 per cent.

“It shows tax increases most likely didn’t lead to rise in collection in absolute terms. In fact, sales recovery in June, when unlocking began, was stronger in states that imposed lower cess,” said Giri.

Alcohol, according to him, is not as price inelastic as many people think.

“While the governments’ desire to collect more taxes is acknowledged and understood, they must not raise taxes beyond a point after which decline in sales and consumer down-trading to cheaper options more than nullify tax hikes,” Giri said.

Tax hikes that pushed consumer price up 10-15 per cent were counter-productive and caused fall in tax mop-up, he said and hoped the governments would take note of the data and bring tax hikes down to moderate and sustainable levels, ideally below 10 per cent.

Source: IANS

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Policybazaar Unveils its new brand campaign "AapKiSideHai"

Policybazaar Unveils its new brand campaign

Akshay Kumar delivers the brand’s promise of always being on the customer’s side

Gurugram, 19th Sept, 2020: Policybazaar.com (Twitter handle: PolicyBazaar), India’s largest online insurance marketplace with over 10 million customers, showcases its commitment to customers in its new television campaign “AapKiSideHai”. The new ad campaign featuring Policybazaar brand ambassador, Akshay Kumar, highlights the brand’s promise of embracing a holistic customer centric approach while helping to bridge the insurance protection gap in India.

Policybazaar’sAapKiSideHai campaign seeks to reassure its customers on being a dependable Insurance partner for them, every step of the way. The brand has always focused on distributing products like term insurance, health insurance, zero commission ULIP’s and motor insurance that are optimal from a customer perspective. Policybazaar is now extending the brand promise beyond the purchase experience to ensure that consumers get the highest levels of service throughout the policy lifecycle.

The new brand campaign reinforces Policybazaar core value of putting the customer first by delivering on its promise of providing a trusted platform for all types of insurance products. The brand is committed to guiding the customer throughout the insurance journey, starting from recommending the right products at affordable pricing, ensuring thatthe policy issuance process is smooth and fast, and, to providing services and claims assistance when needed.

“While we continue to highlight the importance of Health & Term life Insurance through our marketing campaigns, with the brand promise of Policybazaar AapKiSideHai, we also intend to position Policybazaar as a customer centric brand, that is committed to stand by its customers, both pre and post purchase”, said Samir Sethi, Head of Brand Marketing, Policybazaar.com. The new ad series highlights Policybazaar’s unparalleled support to customers, while providing them with the ease of comparing and buying term and health plans online with guidance at each & every step.

Speaking about the TVC launch, Sharat Dhall, Chief Operating Officer, Policybazaar.com said, “Our ultimate aim is to provide 360-degree assistance to customers that starts from when the policy is bought, to provide assistance when the claim is paid out, should such a situation arise. Winning and maintaining customer trust is a strong ethos within the company and this campaign reflects that. At a time when the world is grappling with a crisis like no other, the brand intends to instill confidence in the customers’ buying decisions by assuring them protection of their futures with the right insurance products & thorough assistance throughout the journey.”

The new brand campaign in its series displays moments of indecision that people may have while investing in protection products. It addresses these queries &emphasizes the importance of nurturing a bond with the consumers thereby creating customer delight.


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