Budget 2024: Steel producers anticipate a sustained emphasis on infrastructure spending and import-control measures
Economic Times
India
31-01-2024
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Steel producers anticipate that the 2019 interim budget will continue to prioritise infrastructure expenditure, support domestic manufacturing, and take steps to curb growing imports. Union Finance Minister Nirmala Sitharaman proposed a capex of Rs 10 lakh crore for infrastructure development in the 2023–24 Budget.
"The government should continue the focus on increasing the spend on infrastructure. It should also work on further improving the cost of doing business and the ease of doing business," Tata Steel CEO & MD T V Narendran told PTI.
The industry also expects the government to take some measures to check rising imports as dumping of steel in India can hurt the profitability of players and the investment plans of the steel industry, he said.