BENGALURU:
Karnataka
recorded a 60% dip in sales of Indian Made Liquor (IML) and beer after the state government hiked prices steeply after record sales on the first three days of reopening retail shops.
It declined from peak sales of Rs 232 crore on May 6 to Rs 61crore on May 20. The government had increased ad valorem rates by 21%-31% on May 6 in a bid to fill its coffers. This resulted in retail prices going up from Rs 50 to R