Rama Pulp & Papers Ltd has informed BSE that in the recently presented Finance Bill for the year 2008-09, the Hon’ble Finance Minister has reduced excise duty on paper by 8% (i.e. from 8% to 0%) for the quantity cleared upto 3500 MTs and by 4% (i.e. from 12% to 8%) for the quantity cleared above 3500 MTs.

The above reduction of excise duty would bring about significant improvements in the Company’s future workings and would boost the Company’s profitability substantially by around Rs 4.00 crores P.A.