Ministry may seek hike in customs duty on steel

摘要

Under pressure from large integrated steel makers, the steel ministry is planning to revise its earlier Budget proposal and ask for an increase in customs duty on finished steel from the present 5 percent to 10 percent or 15 percent. According to sources in the ministry, a delegation of large domestic steel makers led by Indian Steel Alliance (ISA) met steel minister Ram Vilas Paswan, on Wednesday, and demanded that customs duty be raised to 15 percent.