Export duty on iron ore pellets to be scrapped

The government has scrapped a 5 per cent export duty imposed on iron ore pellets, as it meets yet another demand of the domestic steel and mining sector reeling under low demand and weak prices.The announcement of the Central Board for Excise and Customs follows a series of measures - such as a safeguard duty, increase in customs duty and imposition of stringent quality guidelines for imported steel - the government has announced since September 2015 to protect the iron and steel industry from rising imports. Govt sets up inter ministerial panel As part of its policy for the development of coal gasification, the government has set up a panel for identifying coal and lignite mines for auction or allotment. The panel has members from ministries such as Petroleum and Natural Gas, Niti Aayog and Central Mine Planning & Design Institute.