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बेसिक इंग्लिश का दूसरा सत्र (कक्षा प्रारंभ : 22 अक्तूबर, शाम 3:30 से 5:30)
Excise Cuts For Automoble & Capital Goods Extended
Jun 28, 2014

Automobile and capital goods industry got a much-needed stimulus on Wednesday when Government extended the excise duty concession by six months to December 31. The move  is supposed to revive the economy and companies across the two sectors.

The excise duty on cars, SUVs and two-wheelers as well as consumer durables and capital goods was cut in the Interim Budget in February to help tide over a demand slump. The concessions, which brought down prices of vehicles and consumer durables, were valid till June 30.

Finance Minister Arun Jaitley said, “Considering the present situation in various sectors, the Government on Wednesday has decided to extend the facility of this reduced excise duty to all those sections for a further period of six months, i.E., they will continue till December 31, 2014."

The Government expects the industry to show positive results in the coming months and hoped "the benefit of these duty concessions will be passed on to the consumers at larg. .Most carmakers and consumer durable firms had already passed on the benefit to customers by cutting prices.

The Government extended the duty concession given its commitment to revive economic growth and to provide a fillip to the capital goods and
automobile sector.

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