No excise duty on candles

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March 20, 2006 15:03 IST

Finance Minister P Chidambaram on Monday exempted scented supari from excise duty if it does not exceed 50 paise a packet.

Candles would also be exempted from the excise duty, he said replying to the Finance Bill, 2006, in Lok Sabha.

Stents to be used in coronary ailment would be exempted fully from customs duty but countervailing duty would continue.

Laundry soaps, carbolic soaps manufactured by NTPs registered as society in villages, women's cooperatives and Khadi and self help groups would be exempted from excise duty, the finance minister said.

The government would consider giving permission to successful and well-managed cooperative banks to open new branches, Chidambaram said.

He defended the decision to make it compulsory for cooperative banks to file statements of income and expenditure.

Steps would be taken to contain price rise, Chidambaram said adding inflation was under control.

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