Punjab Announces New Excise Policy Targeting Rs 12,800 Crore Revenue for 2026-27

Punjab's government has announced a new excise policy for the 2026-27 fiscal year, targeting Rs 12,800 crore in revenue, up from Rs 11,200 crore this year. Prices of Indian Made Foreign Liquor (IMFL) and beer will increase by 5-10%, while Punjab Medium Liquor (PML) prices remain unchanged with a 3% quota rise. The policy allows local manufacturing of single malt whiskies and introduces 40-degree PML sub-vends in high-crime areas to curb illicit alcohol sales. Retail licenses will renew with a 6.5% fee hike, and remaining vends will be allotted via e-tendering.