Excise duty in cigarette hiked. Tobacco farmers in india are struggling to make ends meet
Advertisement
Advertisement
This budget, the excise duty has been hiked by up to 6 % for cigarettes of all sizes. This wasn't expected at all. Still the shares of ITC Limited are going good because it's still below 10%.Cigarette smoking is injurious to health. This statutory warning has taken a toll on the tobacco farmers in India. And this budget the tobacco farmers of the country wants the government not to impose any more taxes on legal cigarettes.
ALSO READ: WHAT CAN A COMMON MAN EXPECT THIS BUDGET
While the market is decreasing every other day as far as consumption is concerned, the Indian tobacco exports are also sluggish and this has resulted in 22 % decline in returns to farmers.
Advertisement
Guntur is also well known place for tobacco plantation. The
Ahead of the Budget 2017, the
The non-profit organisation representing farmers across the states, including Andhra Pradesh, Telangana, Karnataka and
“We are very disturbed because of the declining off-take from domestic manufacturers … Regulatory overreach has created panic and strain on the FCV tobacco farmers in the country,” FAIFA General Secretary
Advertisement
“Excessive increase in the excise duties on tobacco products, cumulative increase of 118 per cent since 2012/13, leading to 22 per cent” has led to shrinkage in the legal cigarette volumes, FAIFA said.(Image:
Advertisement
- I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
- Saudi Arabia wants China to help fund its struggling $500 billion Neom megaproject. Investors may not be too excited.
- Colon cancer rates are rising in young people. If you have two symptoms you should get a colonoscopy, a GI oncologist says.
- Markets extend gains for 5th session; Sensex revisits 74k
- Top 10 tourist places to visit in Darjeeling in 2024
- India's forex reserves sufficient to cover 11 months of projected imports
- ITC plans to open more hotels overseas: CMD Sanjiv Puri
- 7 Indian dishes that are extremely rich in calcium