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<h1>Finance Bill 2021: Clause 116 Introduces Agriculture Infrastructure and Development Cess on Specified Goods for Funding Purposes.</h1> Clause 116 of the Finance Bill, 2021, introduces the Agriculture Infrastructure and Development Cess, an additional duty of excise on specified goods listed in the Seventh Schedule. This cess is intended to finance agriculture infrastructure and development expenditures. The Central Government is authorized to utilize the collected funds as deemed necessary, following parliamentary appropriation. The cess is supplementary to existing excise duties under the Central Excise Act, 1944, and related rules and regulations concerning assessment, collection, and enforcement apply similarly to this cess.