Given the global economic scenario, the Union Budget announced by the Finance Minister has made a great attempt to achieve inclusive growth and a sustainable economy. We cheer the thrust given to the infrastructure industry through investment allowance of 15% and various steps for mobilising funds for the growth of the industry.
We also welcome the extension of full exemption from export duty for galvanised steel sheets. This will help the steel industry greatly and enable us to be more competitive in the international market. We are also looking forward to the announcement of a PPP policy framework for increasing production for coal which will help reduce imports and achieve raw material security in the longer run.
However, we are disappointed that the steel industry demands to reduce import duty on iron ore and other raw materials for steel were not met.
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