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Govt. reviews duty structure on steel

NEW DELHI NOV. 11. The Union Government today reviewed the price trends in the steel sector for considering duty rationalisation.

The Prime Minister's Economic Advisor, S. Narayan, met the Revenue Secretary, Vineeta Rai, to take a view on the steel industry's plea for reduction in duty rates to realign domestic prices with the international trends.

The industry has given representation to the Government for reduction in excise and customs duties on steel, sources said.

The Finance Ministry was considering the demand of the Indian steel industry for rationalisation of duty in the face of steep fall in global prices of the metal, hitting hard the domestic industry, the Central Board of Excise and Customs Chairman, A.K. Singh, had said last month. But he did not say if the realignment could be considered at the time of the budget or earlier. — PTI

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