Finance ministry notified export duty on 11 iron and steel intermediates. The duty revision is effective from May 22. To increase local availability of iron ore and a few steel intermediates, export duty has been raised on one item and imposed on 10 other items afresh.
In the case of iron ore and concentrates, the duty has been raised to 50% on all categories, up from 30% that is now applicable on lumps above 58% iron content. In the case of iron ore pellets, which currently does not attract export duty, a 45% duty has been imposed.
In the case of nine other classes of iron ore and steel intermediates a 15% export duty has been imposed. This includes Flat-rolled products of iron or non-alloy steel.
Sitharaman had expressed concern at the possible impact the rising cost of construction inputs can have on infrastructure creation at a time the government is pursuing an infrastructure-investment led economic recovery.
