Govt unveils 3rd stimulus package

Keeping its promise, the government today unveiled the third stimulus package.

In order to give relief to the beleaguered industry, the government reduced the rates of excise duty and service tax by 2%.

While the general excise duty has been reduced from 10% to 8%, the rate of service tax cut from 12% to 10%. Duty on bulk cement has been reduced from 10% to 8%.