Mumbai/IBNS, Feb. 2 -- Cigarette prices are set to rise by Rs 22-25 per pack of 10 sticks following the implementation of additional excise duty announced in the Union Budget, a report by Hindustan Times said.

Although manufacturers are yet to officially announce the revised Maximum Retail Prices (MRP), distributors have already begun charging retailers at the new rates, inclusive of 40% GST.

Distributors added that fresh stocks bearing the revised prices are expected to reach the market from Monday.

Industry leaders broadly welcomed the Budget, which outlined several major initiatives, including the launch of India Semiconductor Mission (ISM) 2.0.

Presenting the Budget, Sitharaman said the government's priorities include accelerating...