Automobiles, consumer durables to become costlier in New Year

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AutomobileAutomobiles and consumer durables will become costlier in the New Year as the government today decided not to extend the reduced excise duty rates provided to these sectors beyond tomorrow (Wednesday).
According to Union Finance Ministry sources the government is not going to extend the excise duty concessions on the auto sector and consumer durables said.
This move is expected to help the Union government raise additional revenue in the remaining three months of the current financial year to achieve the fiscal deficit target of 4.1 per cent of GDP.

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