To give relief to the automobile industry facing an unprecedented negative growth, the interim budget presented in the Lok Sabha by Finance Minister P Chidambaram, proposes reduction of excise duty upto the end of June for small cars, motor cycles, scooters and commercial vehicles from 12 percent to 8 percent.Sports Utility Vehicles, SUVs will attract a lower duty of 24 percent from 30 per cent. Large cars will attract a lower duty of 24 percent and mid segment cars 20 percent. Mobile phones will be cheaper with restructure of excise duty to encourage domestic production. The rates will be six percent with CENVAT credit and one percent without. Soaps and oleo chemicals will cost less with rationalisation of customs duty. Specified road construction machinery will be exempted from Counter Veiling Duty on similar imported machinery. Terming the performance of the agricultural sector as stellar, Mr. Chidambaram said, foodgrains production is estimated to go up to 263 million tonnes this year, an increase of eight million. He proposed exemption of service tax for the loading and unloading, packaging, storage and warehousing of rice.