The Gazette of India
EXTRAORDINARY
PART II—Section 2
PUBLISHED BY AUTHORITY
No. 68 ] NEW DELHI, MONDAY, DECEMBER 3, 1973/AGRAHAYANA 12,, 1895
Separate paging is given to this Part in order that it may be filed as a separate compilation.
LOK SABHA
The following Bill was introduced in Lok Sabha on the 3rd December,
1973: —
BILL NO. 95 OF 1973
A Bill further to amend the Central Excises and Salt Act, 1944,
BE it enacted by Parliament in the Twenty-fourth Year of the Republic
of India as follows: —
Short title 1. (1) This Act may be called the Central Excises and Salt (Second
Amendment) Act, 1973.
and com- mencement (2) It shall be deemed to have come into force on the 3rd day of
November, 1973.
2. In the First Schedule to the Central Excises and Salt Act, 1944 1 of 1944.
(hereinafter referred to as the principal Act),—
Amend- ment of the First Schedule.
(i) in Item No. 6, for the entry in the third column, the entry "Two thousand rupees per kilolitre at fifteen degrees of Centigrade thermometer." shall be substituted;
(ii) in Item No. 7, for the entry in the third column, the entry "Four hundred and sixty-five rupees per kilolitre at fifteen degrees of Centigrade thermometer.' shall be substituted.
Repeal 3. (i) The Central Excises and Salt (Amendment) Ordinance, 1973, is 3 of 1973.
hereby repealed.
and saving.
990 THE GAZETTE OF INDIA EXTRAORDINARY [PART II—SEC. 2].STATEMENT OF OBJECTS AND REASONS
Consequent on successive increases in crude oil prices and the recent cuts in crude oil supplies, it became necessary to bring about an imme- diate restraint in the consumption of some of the petroleum products, with a view to ensuring uninterrupted availability of the more essentially need- ed inputs for sustaining economic growth. It also became necessary to bring about parity in the prices of kerosene and high speed diesel oil to check the widespread diversion of kerosene as automotive fuel by adul- teration with high speed diesel oil. Besides, keeping in view the high level of budgetary deficit this year due to unanticipated and urgent demands of inescapable nature, a series of measures had to be taken to reduce the level of deficit. It was, therefore, decided as an immediate measure to steeply increase the prices of two of the principal petroleum products, namely, motor spirit and kerosene, the major part of this increase being effected by substantially raising the central excise duties leviable thereon.
2. Accordingly, the President promulgated the Central Excises and Salt (Amendment) Ordinance, 1973 (3 of 1973), to amend the First Schedule to the Central Excises and Salt Act, 1944, so as to increase the rates of duty on motor spirit and kerosene.
3. The amendments made by the Ordinance providing for the increased excise levy on motor spirit and kerosene became effective from the 3rd November, 1973.
4. The Bill seeks to replace the provisions of the Ordinance.
NEW DELHI;
The 27th November, 1973
K. R. GANESH.
S. L. SHAKDHER,