Cigarettes and Guthka to cost you dear

Cigarettes and Guthka to cost you dearThis year's budget has been getting a mixed review from the economists and analysts. There were a lot of things where the prices went up and just a few where there were relaxations.

For the Cigarettes and Guthka consumers there is some bad news that they will now have to pay more, not just in terms of the health but the money too.

For people with this unhealthy habit, it is sure going to be tough as the excise duties on tobacco products go up. Though the move of hiking was expected but the percentage by which it rose, came as a shock to most companies. The excise duties has been proposed to be increased by 17 percent, of which most part will be passed on to the consumers, thus raising the price of guthkas and cigarettes.

The government has clearly tried to pump this unhealthy habit out of the system, as the firms also believe that it would be extremely tough to not share the burden.

The exact amount is yet to be finalized by the companies and will totally depend on the brands and the financial strength. The market gave thumbs down to the tobacco companies as the market leader ITC dipped by 6.71%.