Retain low excise duty
We hope the present excise duty of 8 per cent will continue, especially for product categories such as TMT and roofing sheets, which are used in mass construction. We expect the Budget to announce measures to help achieve investment and consumption-led growth. The Budget has to provide impetus to major investments in infrastructure remove impediments to implementation. Since the stimulus package has been of great help, its withdrawal should be done in a phased manner.
CHAMBER SPEAK
CII
The Customs duty on alloy steel and stainless steel is 5 per cent. Nickel in various forms is the main raw material in alloy/ stainless steel and is not indigenously available. It attracts customs duty of 2 per cent which needs to be reduced to nil. Another important input for alloy steel is ferro alloys. The Customs duty on ferro-nickel needs to be reduced to nil.
EXPERT VIEW
Kameswara Rao
India leader for energy, utilities, and mining practice, PricewaterhouseCoopers
The potential growth in infrastructure and urbanisation suggests that the demand for steel will outpace supply. The state and central governments must extend aggressive support to expedite capacity addition. Infrastructure is emerging as a key constraint and early actions are needed to address limitations in roads and rail, locos and wagons for transporting products.
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