New Delhi, 28 February, 2011
"The Budget is firmly growth-oriented and has various positives for the steel industry.
The Govt’s continued thrust on development of infrastructure and manufacturing will help steel demand in the country to grow. Besides, higher support for the housing sector is a step in the positive direction.
"Higher export duty on iron ore has been a long pending demand of the steel industry and the Budget has taken care of the issue by increasing the export duty to 20%. This should ensure higher availability of iron ore for the Indian steel industry.
Again, withdrawal of export duty on pellets should encourage installation of pellet plants by mining companies. More pellet plants in the country will also benefit the steel industry.
"Further, reduction in surcharge on income tax from 7.5% to 5% will have a positive impact on domestic companies, making available disposable surplus for investment. The proposed Constitutional Amendment Bill on GST is also a welcome development."
The Govt’s continued thrust on development of infrastructure and manufacturing will help steel demand in the country to grow. Besides, higher support for the housing sector is a step in the positive direction.
"Higher export duty on iron ore has been a long pending demand of the steel industry and the Budget has taken care of the issue by increasing the export duty to 20%. This should ensure higher availability of iron ore for the Indian steel industry.
Again, withdrawal of export duty on pellets should encourage installation of pellet plants by mining companies. More pellet plants in the country will also benefit the steel industry.
"Further, reduction in surcharge on income tax from 7.5% to 5% will have a positive impact on domestic companies, making available disposable surplus for investment. The proposed Constitutional Amendment Bill on GST is also a welcome development."
Posts
No comments:
Post a Comment