The Chandigarh excise and taxation department has received a total of 80 bids for 53 of 77 vends that are to be auctioned in the excise policy for 2017-18. The vends that have been auctioned are to sell Indian Made Foreign Liquor (IMFL). Against 12 lakh cases this year, 11 lakh cases were approved last year for retail sale liquor licenses across the city. Last year, the administration had earned Rs 238 crore from auction of 99 vends, while it earned Rs 225 crore from sale of whisky. The reserve price has been fixed at Rs 202.55 crore, meaning that one vend will cost around an average of Rs 2.6 crore.

Source: Hindustan Times April 05, 2017 08:03 UTC