Auto task force for status quo on duty structure

A high-level task force set up to recommend a revival package for the auto industry is understood to have suggested maintaining "status quo" on excise and customs duty rates. The task force, which submitted its report recently, has not recommended any change in the prevailing excise and customs duty structure for the auto sector, said Finance Ministry sources. It has, however, suggested some incentives on the direct tax front, besides recommending enhanced financial support through State Government loans.

Hike in sugar import duty on hold

The Food Ministry's proposal recommending a hike in the import duty on sugar has been put on the backburner. Highly- placed Finance Ministry sources say a decision on the issue is likely to be delayed as the Government apprehends that concurring with the proposal may result in an increase in domestic sugar prices. "The Food Ministry's proposal was discussed at the meeting of the Cabinet Committee on Prices (CCP), last month. It was, however, felt that in the absence of a written assurance from the industry to keep the domestic sugar prices stable, it would not be prudent to effect an immediate hike", the sources said.

It’s ₹3.55 lakhs in Delhi

The much talked about Matiz, the big small car from Daewoo stable, was formally launched on Wednesday with a price tag of ₹3.55 lakhs (ex-showroom, Delhi) for the deluxe version. The ex-factory (UP) price of the car is kept at ₹3,27,630. The car comes to the consumers with several features such as power windows, air-conditioning, central locking and multi-point fuel injection.

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