The Budget focuses on policy and taxation reforms needed to provide impetus to the economy and reflects the government’s commitment to improve the ease of doing business.
The government has taken steps to boost the agricultural and social sector for an inclusive growth.
Steel sector should get the much needed demand boost through the government spending in infrastructure. The budgetary proposals announced by the Finance Minister will help the industry meet its growth target and reach its full potential. However, the industry has been bogged down by a deluge of imports and predatory pricing. And the absence of a level-playing field with countries would impact the domestic producers. While recent interventions by the government Government of India has given some breather, long-term measures to create a level playing field are required to firewall the domestic steel industry from global overcapacity and dumping.
TV Narendran, MD, Tata Steel, India and S-E Asia