'No alcohol' protest at over 20,000 bars in Maharashtra today over duty hikes
These measures, aimed at addressing financial strain from the Ladki Bahin scheme, have sparked outrage among bar owners, who warn of an existential threat to their businesses.The tax hikes have significantly increased liquor prices, hitting consumers hard. A 180-ml bottle of country liquor, previously priced at Rs 60– Rs 70, now costs Rs 80. Maharashtra-made liquor is now priced at Rs 148. Indian-made foreign liquor has risen from Rs 130 to Rs 205, and premium foreign liquor now costs Rs 360, up from Rs 210.'This triple blow will force many establishments to shut permanently. Our members are fighting for survival,' said Jimmy Shaw, President of HRAWI.Jimmy Shaw added that the hospitality sector, which supports over 20 lakh jobs and attracts 15 crore tourists annually, is a vital pillar of Maharashtra's economy. HRAWI warns that the current tax regime could lead to widespread bar closures, over 4 lakh job losses, a shift of tourists to more affordable neighbouring states, and a rise in unregulated alcohol consumption.Adding to the controversy, the state's plan to issue 328 new liquor sale licenses, primarily to companies rather than individual shopkeepers, has raised allegations of favouritism. Each liquor manufacturing company will reportedly receive eight licenses, and the committee overseeing foreign liquor production licenses is chaired by Deputy Chief Minister Ajit Pawar, whose son, Jay Pawar, is also a director at Capovitez, a liquor manufacturing company.This has fueled accusations of a conflict of interest, with critics like UBT Sena MP Sanjay Raut stating, 'Maharashtra is turning into a land of drunkards,' and social activist Anjali Damania arguing, 'Ajit Pawar should not head this committee.' However, Ajit Pawar has avoided commenting on the allegations.HRAWI has urged the government to rationalise the excessive tax hikes, reconsider the mandatory yearly revision of license fees, and engage in dialogue with industry bodies to create a sustainable policy framework. Both the public and industry stakeholders are now left questioning whose interests the government's liquor policies truly serve.- Ends
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Indian delegation in US, Trump says 'we're going to have access' as trade talks progress
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Mint
17 minutes ago
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Stocks to buy today: Trade Brains Portal recommends two stocks for 16 July
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Indian equities opened on a strong note Tuesday, with the Nifty 50 beginning the day at 25,089.50—just 7 points above Monday's close of 25,082.30. The index hit an intraday high of 25,245.20 before settling at 25,195.80, up 113.50 points or 0.45%. On the technical front, the Nifty ended below its 20-day exponential moving average (EMA) but remained above its 50-, 100-, and 200-day EMAs. The Relative Strength Index (RSI) stood at 50.50, comfortably below the overbought zone of 70. The BSE Sensex followed a similar trajectory, opening at 82,233.16, peaking at 82,743.62, and closing at 82,570.91—up 317.45 points or 0.39%. Its RSI came in at 49.59. Like the Nifty, the Sensex closed below its 20-day EMA but held above the longer-term 50-, 100-, and 200-day EMAs. All major domestic indices ended in the green. The Nifty Auto Index led the sectoral rally, ending the day at 23,905.25, up 1.50% or 353.25 points. 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Trade Brains Portal is a stock analysis platform. Its trade name is Dailyraven Technologies Pvt. Ltd, and its Sebi-registered research analyst registration number is INH000015729. Investments in securities are subject to market risks. Read all the related documents carefully before investing. Registration granted by Sebi and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before making any investment decisions.
Mint
23 minutes ago
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Zelestra looks to sell India biz for $400-500 million
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