Presenting the General Budget 2011-12 here today, Shri Pranab Mukherjee, Finance Minister has informed that the proposals relating to Customs and Central Excise are estimated to result in a net revenue gain of Rs.7300 crore. He has proposed:

• Exemptions from parallel Excise Duty for domestic suppliers producing capital goods needed for expansion of existing mega or ultra mega power projects.

• Full exemption from basic Customs Duty to bio-asphalt and specified machinery for application in the construction of national highways.

• Scope of exemptions from basic Customs Duty for work of art and antiquities extended to apply for exhibition or display in private art galleries open to the general public.

• Exemption from Import Duty for spares and capital goods required for ship repair units extended to import by ship owners.

• Concessional basic Customs Duty of 5% and CVD of 5% available to newspaper establishments for high speed printing presses extended to mailroom equipment.

• Jumbo rolls of cinematographic film fully exempted from CBD by providing full exemption from Excise Duty.

• Out right concession to factory-built ambulances from Excise Duty.

• Relief measures proposed for raw pistachio, bamboo for agarbatti, lactose for the manufacture of homoeopathic medicines, sanitary napkins, baby and adult diapers.

Excise and customs concessions broadened to exempt specified capital goods, imports and relief items under budget proposals. Budget proposals expand excise and customs duty reliefs by creating or extending exemptions and concessional duty treatments for targeted sectors: exemptions for capital goods suppliers to large power projects; full customs exemption for bio asphalt and specified highway machinery; extended exemptions for art and antiquities exhibited in private galleries open to the public; import exemptions for ship repair spares and capital goods to ship owners; concessional duties for printing and mailroom equipment; excise exemption for jumbo cinematographic film rolls and factory built ambulances; and relief for specified inputs such as lactose for homoeopathic medicines.