Higher outlays for Bharat Nirman, irrigation projects, mega power projects, rural housing, etc, will help in infrastructure development. Together with excise duty cut for auto sector, it will spur demand for steel.

Reduction in CENVAT from 16% to 14% will also help in containing the cost of steel, especially for construction purposes. Customs duty reduction on project imports will have a favourable impact on capital costs, at a time when the steel industry is undergoing massive expansion.

We welcome the special initiatives and measures relating to skill development and higher education, which are critical from the point of view of long-term needs of the entire manufacturing sector.


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