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GENERAL BUDGET 2008-09 The Finance Minister, Shri P.Chidambaram in the General Budget 2008-09 has proposed reduction in the custom duty on crude and unrefined sulphur from 5 per cent to 2 per cent, in order to support domestic fertilizer production. The duty exemption on naphtha for use in the manufacture of polymers has been withdrawn and normal rate of 5 per cent customs duty has been imposed. This is to remove the distortions which arise due to its export from refineries and import by manufacturers of polymers. However, naphtha imported for the production of fertilizers will continue to the exempt from import duty. The duty on bactofuges has been reduced from 7.5 per cent to nil. This will benefit the dairy industry by increasing the shelf life of milk. In order to reduce the cost of manufacture of cattle and poultry feeds, the Budget proposes reduction in the duty on vitamin premixes and mineral mixtures from 30 per cent to 20 per cent and on phosphoric acid from 7.5 p.c. to 5 p.c..
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