CII welcomes the announcement by the finance minister to further extend the stimulus provided on Feb. 17, 2014 by way of reduction of excise duty upto Dec. 31, 2014 on certain goods. 

This would mean that the reduction in excise duty ranging from 3% to 6% on automobiles and 2% on capital goods, consumer durables as well as goods aalling under chapter 84 and 85 of the central excise Tariff would continue for another six months i.e Jul. 1, 2014 to Dec. 31, 2014.
 
CII in its pre-budget memorandum for 2014-15 has asked for extension of the stimulus package upto Mar. 31, 2015 i.e the end of the financial year. 'We hope that further extension will be considered by the government keeping in view the negative growth in automobiles as well as Capital Goods Sectors during the financial year 2013-14,' it said.