Budget 2016: Cigarettes to go costlier

New Delhi: Prices of cigarettes are set to go up for the fifth consecutive year as Finance Minister Arun Jaitley on Monday announced a 10-15 per cent hike in in excise duty for all tobacco products excluding beedi. 

Last year, Finance Minsiter had announced 15-25 per cent increase in cigarette and cigar prices.

Following the announcement, the shares of ITC, India's largest cigarette maker saw an over 5 per cent decline.

News24 Bureau