Iron & steel industry pins hope on budget announcements
economictimes
India
04-03-2024
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One of the pressing issues highlighted by industrialists is the escalating power tariff. The current government's imposition of surcharges has led to a significant increase in power costs, with industrialists facing a rise of INR 1 per unit. This hike, compared to the previous tariff fixed at INR 5 per unit, has exacerbated financial strains on the sector.
With the beginning of the Punjab assembly's budget session, optimism has surged in the Mandi Gobindgarh and Fatehgarh Sahib's iron and steel industry, which has been anticipating positive announcements and relief measures. The industrial community, particularly small-scale enterprises, eagerly hopes for a revival after enduring "neglect and challenges" in recent years.