Business

Government withdraws export duty on steel

Government has withdrawn export duty on steel with effect from Saturday. Finance Ministry said Centre has restored the status quo as was prevailing prior to 22nd May this year. It has withdrawn the export duty on iron ores lumps and Fines below 58 person iron content, iron ore pellets and the specified steel products including pig iron. The import duty concessions on Anthracite, coking coal, coke and semi coke and ferronickel have also been withdrawn.

The measures will provide a fillip to the domestic steel industry and boost exports.

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