Commonwealth Network

The Indian Budget 1996-97 The Indian Economy Overview

IN DEPTH: Indian Financial Bill: Highlights

Proposed modifications on the Financial Bill: Highlights

Commercial properties forming part of stock-in-trade freed from levy of Wealth Tax

Excise duty on paper units, up to a capacity of 10,000 tons reduced to 5%

Vermicelli, absorbent cotton wool, non-absorbent cotton wool, gauze, bandages and similar articles for medical purpose would be free of excise, if they are marketed without a brand name.

Specified coir processing machinery excempted from excise duty

Excise duty on insulated wares of plastics reduced to 15% from 20%

Certain specified processed narrow woven fabrics of cotton and man-made fiber products exempted from excise duty.

Custom duty on Hard Disk Drives, floppy disk drives and CD ROM drives, reduced from 20% to 10%

Custom duty on primary forms of stainless steel, other than stainless steel slabs, increased to 30% from 20%

Custom duty on stainless steel scrap reduced to 10% from 20%

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