The Union budget was a balanced and growth oriented budget. The Budget can be said to be for Aam Aadmi (Common Man), agriculturist and industrialist and likely to encourage the personal savings and consumption level. The budget was also forward looking and focused on inclusive growth in all important sectors of the economy such as agriculture and rural development, power infrastructure, education, housing, health and social sectors.

The union budget has also increased excise duty on tyres by 2% from 8% to 10%. The excise duty on some raw materials for tyre industry like Styrene Butadiene Rubber (SBR), Nylon Tyre Cord Fabric (NTCF) and carbon black has also been increased from 8% to 10%. The company has passed on the full increase in excise duty to its customer's, effective from 2 March 2010.

Powered by Capital Market - Live News