Steep fall in Excise Revenue for October 2008

By Vijay Kumar

Recession is what you call it, but the blunt fact is that the Excise Revenue for the month of October 2008 was Rs. 900 Crores less than what it was in October 2007. If this trend continues, real hard times are ahead. There was a 1% fall in Customs Revenue too. However Service Tax is surging ahead with an 18% increase.