Presenting the interim budget, the last financial account of UPA-2 in the Lok Sabha today, Finance Minister P.Chidambaram said, the manufacturing sector needs an immediate boost and proposed reduction of excise duty from 12 percent to 10 percent for capital goods and consumer non-durables falling under chapter 84 and 85 of the schedule to the Central Excise Tariff Act.

This will be for a period till 31th of June when a regular budget will be taken up by the next government.

The Finance Minister said, in keeping with the convention, he does not propose to make change to the tax laws but some interventions can not wait for the regular budget.