HM Nerurkar, Managing Director of Tata Steel opined that the Union Budget 2013-14 made an attempt to achieve inclusive growth and a sustainable economy given the global economic scenario.
Nerurkar welcomed the thrust given to the infrastructure industry through investment allowance of 15 per cent and various steps for mobilising funds for the growth.
He welcomed the extension of full exemption from export duty for galvanised steel sheets, stating that this will help the steel industry greatly and enable it to be more competitive in the international market.
But he expressed concern that the steel industry demands to reduce import duty on iron ore and other raw materials for steel were not met.
He said the government must announce a PPP policy framework for increasing production for coal which will help reduce imports and achieve raw material security in the longer run.
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