• search
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

Budget 2018: Steel Ministry seeks import duty waiver for coking coal

By PTI
|

Ahead of the Union Budget 2018- 19, the steel ministry has sought a waiver of the import duty on coking coal to boost the sector, a top official said.

Budget 2018: Steel Ministry seeks import duty waiver for coking coal

"We have written to the finance ministry to bring to zero the import duty on coking coal from present 2.5 per cent," Steel Secretary Aruna Sharma said.

The ministry in its recommendations to the finance ministry has also suggested to bring down the import duty on steel scrap to nil, the secretary said.

India has to heavily depend on import of coking coal, as the domestic quality has higher ash content, which is unsuitable for the steel industry with present technology.

During April-September of the ongoing fiscal, 22.6 million tonnes (MT) (provisional) of coking coal was imported, Coal Minister Piyush Goyal had said in reply to the Lok Sabha last month.

While 41.6 MT coking coal was imported in 2015-16, the import was 43.5 MT, he had said.

To bring down the imports of coking coal, the steel ministry had earlier said that it was in discussion with the coal ministry for investment in washeries.

Secondary steel industry body All India Induction Furnaces Association (AIIFA) had also recently urged the government to remove 2.5 per cent import duty on steel melting scrap in the upcoming budget.

The Union Budget for 2018-19 will be presented on February 1.

PTI

For Daily Alerts
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Oneindia sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Oneindia website. However, you can change your cookie settings at any time. Learn more