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ImageHave you been postponing the purchase of a new washing machine? Is your purse not permitting you to get hold of a frost free refrigerator?

Well, thanks to Finance Minister P Chidambaram, you can now fulfil your wish.

"The manufacturing sector is the backbone of any economy. It is consumption that drives production and it is production that drives investment . . . I believe there is a need to give a stimulus to the manufacturing sector," Chidambaram said while presenting the General Budget for 2008-09 in Parliament on Friday.

He announced a 2 per cent general cut in excise duty on all consumer goods.
Image: Finance Minister P Chidambaram has proposed a 2 per cent general cut in excise duty on all consumer goods.
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