FBT to be scrapped/modified Interest income on long-term bank deposits to be made tax-free. Excise on passenger cars and utility vehicles to be cut from 24% to 16%, and SED from 8% to nil. 100% depreciation for PCs to boost broadband usage SED on FMCG products to become CENVATABLE. Agro-based products to get full excise exemption Customs duty on steel to go up from 5% to 8%. Customs on fibre intermediates like PTA, MEG to be cut from 15% to 10% and excise duty on end products like PFY, PSF from 16% to 8% Custom duty on capital goods to be reduced from 15% to 10%. Duty cuty on aviation turbine fuel to boost the aviation industry.
