Excise Duty From Vehicles up 63.78% to Rs 3,958.34 cr in FY'10 .

The government today said excise duty collection on vehicles surged by 63.78 per cent in 2009-10 to Rs 3,958.34 crore from the previous fiscal.

In a written reply to the Lok Sabha, State Minister for Heavy Industries and Public Enterprises Arun Yadav said according to the information by Department of Revenue, excise duty collection during 2009-10 stood at Rs 3,958.34 crore as against Rs 2,416.92 crore in FY'09

As per Society of Indian Automobile Manufacturers (SIAM) data, total vehicles sales in India in last fiscal increased to 1,22,92,770 units from 97,24,243 units in 2008-09.

Speaking about the ongoing financial year, Yadav said:"As per information received from the SIAM, the domestic car sales have surged to an all time high and exports of cars have also increased in the country."

He said during April-October period this year, domestic car sales jumped by 34.29 per cent to 11,05,273 units from 8,23,049 units in the year-ago period.

In the seven-month period, the country exported 2,51,159 units compared to 2,48,277 units in the same period last year, up 1.16 per cent, he added.

Yadav said the government, along with all stake holders, is also working on upgrading infrastructures such establishing testing, homologation and certification facilities, meeting R&D needs, human resource development and issues relating to environment and safety.

Source : indiareport.com