Prime Minister Modis maiden budget was well-received by many for a - TopicsExpress

Prime Minister Modis maiden budget was well-received by many for a number of reasons. One of which being the increased taxation of cigarettes. Although higher price implies fall in demand, this move did not translate into reduced cigarette consumption. What is more surprising is that the increase in tax revenues fell way short of the expected mark. We look at the various reasons that led to the deviation from known economic principles- goo.gl/VXNLyB

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