Financial Daily from THE HINDU group of publications
Monday, Jan 09, 2006
Financial Daily from THE HINDU group of publications Monday, Jan 09, 2006 |
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Opinion
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Letters Excise duty on sugar
This is with reference to "Sugar, edible oil can help mop up additional revenue of Rs 1,000 cr" (Business Line, January 4). The suggestion by the author that the Finance Minister consider increasing the excise duty on sugar by Rs 250 to mop up additional revenue during 2006-07 is surprising given that a majority of the factories are still recovering. True, there is an improvement in price realisation on sale of sugar, and the factories are trying to clear their cane price arrears. If the author had suggested lowering of excise duty on sugar, when sugar was selling at lower prices and sugar factories were turning sick, may be the cane price arrears, would not have been so high. Any increase in the excise duty on sugar will add to inflation. Secondly, putting the burden of increase in excise duty on an essential food item on the consumer is not right. Further, it is not practical for the Finance Minister to pass on the proposed increase in excise duty on sugar to consumers, when the Government has not been able to increase the price of levy sugar for three years now. Vinay Kumar
Letters to the editor and contributions can be sent by e-mail to: bleditor@thehindu.co.in
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