LD FM TWO LAST

In fact, the PMEAC had favoured raising of excise duty by
two per cent to the level of service tax at 10 per cent or
raising both excise duty or service tax to 12 per cent.
However, many others, including industry, say that
economic recovery is still confined to a few large sectors,
and as such there is no case for withdrawing stimulus measures
at all.
They say that the recovery is still dependent on stimulus
and the economy may again slow down, if these fiscal steps are
taken back, partially or wholly.
Indian economy grew by a spectacular 7.9 per cent in the
second quarter of this fiscal against a mere 6.1 per cent in
the first quarter and 5.8 per cent each in the preceding two
quarters. PTI