Thursday, 21st March, 2019

Snippets

Investors ask govt to list tobacco in the commodities market so that they can earn about 10-15% off it every year

05, Mar 2016 By Hemant Bijapurkar

New Delhi: In exclusive data accessed by Faking News many investors have asked the government to list tobacco as an item in the commodities market so that they can get assured return on investment of about 10-15%.

Now trade cigarettes on commodities market
Now trade cigarettes on commodities market

This demand comes after Finance Minister has been increasing the excise duty on tobacco products for the past 3 yrs and is hell bent on bringing in more increments in this area.

We spoke to an investor in this regard and he said, “Well the finance minister was increasing my cigarette bill by 10-15% for the past 3 yrs and I finally had enough. Why should only the government profit off a habit millions of take up as a companion through thick and thin times(often caused by the habit itself) so we hereby have requested the government to list tobacco along with gold, silver and oil in the commodities market. This would ensure tobacco would function just as equity and will fluctuate as per the market rate just as normal stocks do.”

“So with Jaitley already increasing its price by 10-15% every year, we are assured of at least that amount of return, not considering a price surge due to increased demand as after all the majority of our population is below 25 yrs, an ideal age to inculcate this habit for life. This rate is much higher the 9.5% pre tax return provided on FD’s,” he added.

“Also just like there are two kinds of oil indices Brent and Nymex, we have requested the government to add different indexes to tobacco like cigarette, khaini, kattha, pan parag and a couple of others so that tobacco investors can effectively diversify their portfolio. Also we request our tradings to be made totally tax free as we are already being overburdened by existing excise duty on tobacco,” he concluded.

There are also reports of request being made to list Arun Jaitley’s crediblity and favourablity as a Finance minister so that the investors can make a fortune shorting it.