During 2013-14, auto industry has been
struggling and car sales fell 4.65% to 17,86,899 units compared to 18,74,055
units in 2012-13. In the Interim Budget presented in February 2014, excise duty
on small cars, scooters, motorcycles and commercial vehicles was reduced to 8%
from 12%, 24% from 30% for SUVs, 20% for mid-sized car from 24% and 24% for
large cars from 27%, which is applicable till 30th June 2014. Today, Finance
Minister Arun Jaitley extended the excise duty cut till December 2014. The
industry hope demand to improve in the festive season between September and
December.
Today the benchmark RSS4 grade rubber closed
at `.148 a kg at Kottayam, while RSS3 grade closed at `.129.92
a kg at Bangkok and Malaysian SMR20 closed at `.107.59 a kg. The
last traded prices on National Multi Commodity Exchange at 4.40 pm IST, for
July 2014 were at `.145.01 a kg, August at `.144.91, September at
`.143.90 and October at `.143 a kg. On Tokyo
Commodity Exchange, July 2014 futures series closed at ¥207.2 a kg, August at
¥209.6, September at ¥212.7, October at ¥214.8, November at ¥217.3 and the
contract for delivery in December 2014 closed at ¥219.4 a kg.
What our readers say: http://rubber4u.com/Public/Views.pdf
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