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Budget: CII urges FM to retain current tax rates on excise

  • Confederation of Indian Industry, CII today asked Finance Minister Pranab Mukherjee to retain the current rates of excise and service tax in the Budget to boost investments. 
  • CII said in its pre-Budget memorandum that there is a strong need for retaining the current rates of excise and service tax to spur investment by the industry. 
  • As the government is faced with widening fiscal deficit, there are apprehensions in the industry that excise duty may be hiked in the Budget.
  • Finance Minister Pranab Mukherjee will present the Budget for 2012-13 on March 16.


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