4% across-the-board excise duty cut to be continued beyond 31 March, 2009.
To cut service tax to 10%.
To cut excise duty by additional 2%.
Excise duty on bulk cement to be 8% or Rs 230 per metric tonne, whichever is higher.
- Naptha exempted from customs duty to provide relief to the power sector; extends customs duty in Naptha beyond March 31, 2009.
“The general relaxation in the excise duty rates by 4% was made with effect from 7/12/08 and it is now being extended beyond March 31, 2009. In addition, it has now been decided to reduce the general rate of central excise duty from 10% to 8%,” Mukherjee said, while addressing the Lok Sabha.
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indian stocks, markets today
Today stock markets had good day today, Nifty which was facing resitance at 2830-2860 broke toady and closed above these levels.
Nifty opened at week, but with fresh buying coming in Index stocks the Nifty and the Sensex recovered from their lows. CNX Nifty Ended at 2874.80 up by 1.80% and the BSE Sensex closed at 9434 up by 197.
In today trade buying was seen in Reliance Industries and Reliance Capital, even the real easte major DLF done well in today markets.
Top gainer in NIFTY are Hindalco which came with better than expected Q3 results closed up by 7.71% and DLF saw shot covering and closed at 7.53% up at 176.40. HCL TECH up 6.28%, Suzlon up 6.26%
Top Loser in NITY SUNPHARMA down by 6.38% and BHEL 2.79%
Auto major Marui also saw good buying and gained 5.54%, Rcom closed up by 5.40%
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