Refineries in NE states to charged only half excise duty

Air travel to the region to get a boost

Union Finance Minister Yashwant Sinha, in his Union Budget 2002-03 present to parliament today, has proposed special dispensation of excise duty structure for the petroleum refineries located in the north east region.

With effect from 1 March 2002, the petroleum products produced by all these refineries shall be charged to excise duty at half of the normal rates of excise duty otherwise applicable to petroleum products.

The budget has also exempted air travel within, to and from the north eastern states from the inland air travel tax.

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