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Petrol, diesel, edible oil dearer; cars, liquor, ACs cheaper
February 28, 2003 15:30 IST
Consumers will have to pay more for transportation as petrol and diesel will be costlier along with edible oil, but will be able to enjoy the luxury of cheaper cars, foreign liquor and air conditioners as a result of the 2003-04 Budget proposals announced by Finance Minister Jaswant Singh on Friday.
Singh proposed a 50 paise per litre cess on diesel and petrol to fund the National Highway Development Project while eight per cent excise duty has been imposed on branded refined edible oils, making all these items costlier.
Special Excise Duty has been halved to eight per cent on motor cars, air conditioners and their components, aerated soft drinks and their concentrates, making these cheaper.
Besides, toys, bicycles and their parts, kitchen articles including utensils, recorded audio CDs, umbrellas, pressure cookers, biscuits, boiled sweets and sugar confectionary are expected to cost less. Also, computer purchase could get cheaper with pre-loaded software being excluded from excise duty levy.
However, paper, cement and cement clinkers and a whole host of services could become more expensive soon. The FM has proposed an increase in the service tax rate from five per cent to eight besides brining a lot of services under the tax net.
Thus, coaching centres and commercial vocational institutes, customer care, internet cafe and banking services are likely to become costlier next fiscal.
PTI
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Number of User Comments: 38
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Sub: petrol prices
i think now automobile industry have to invent the vehicle which will run by Cheap liquor not high price petrol
Posted by kamlesh
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Sub: Fuel prices !!!!!!!!!!
The steep increase in fuel prices has made every one's personal life to burn because there had been raise in the petrol / diesel prices ...
Posted by D.Mohandas
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Sub: hike of petrol cost
The hike in petrol cost will make the ordinary people to suffer more. The middle group in Bangalore (financially) got atleast one byke each. putting ...
Posted by Pradeep Kumar.R
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Sub: budget
this budget paralised to all women by costlier oil,petrol.why does cheaper liquor?
Posted by meena
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Sub: Central Govt. has gone crazy!!
The Central Govt. seems to have gone crazy. There have already been increases in the petrol & diesel prices 'n' number of times in the ...
Posted by Anand
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