Envisaged expenditure on infra, roads will generate demand for steel: Tomar

New Delhi, Mar 1 (KNN) Terming the Central Budget as a budget for villages, farmers, poor, entrepreneurs and youth, Minister of Steel & Mines Narendra Singh Tomar said that envisaged expenditure on infrastructure and road construction will give a boost to economy and generate demand for steel in the country.

Tomar welcomed the decision to increase custom duty on zinc alloy, which will control the recent surge in imports.

Removal of export duty on iron ore with Fe content less than 58 % will encourage exports of iron ore which is not being utilized in India and increase in custom duty by 2.5 % on aluminium will provide relief to domestic industry, he added.

Tomar expressed confidence that steel industry will benefit from increase in steel demand as a result of various decisions taken. (With PIB Inputs)