The Ministry Of Steel Publishes Steps To Reduce Steel Prices

10 Aug 2022 CW Team

In a written reply to the Rajya Sabha, Shri Faggan Singh Kulaste, Minister of State for Steel, detailed the government's efforts to make raw materials and steel more affordable in a written reply. Since steel prices are highly variable, it is prudent to consider market conditions and the interests of both upstream and downstream consumers.

To regulate the now-deregulated sector, the government has taken a number of measures to mitigate the effects of demand and supply; global market conditions; trends in raw material prices; logistic costs; power costs; fuel costs; and so on:

(i) Reduction in Custom Duty on Semis, Flat and Long products of non-alloy, alloy and stainless steel to 7.5%, in Union Budget 2021-22.
(ii) Extension of exemption in Custom Duty on steel scrap up to 31.3.2023 along with revocation of Anti-Dumping Duties (ADD) and Countervailing Duties (CVD) on steel products, in Union Budget 2022-23.
(iii) Modifications in tariffs on raw materials of steel and other steel products vide notification dated 21.05.2022 wherein the import duty on Anthracite/Pulverized Coal Injection (PCI) Coal, Coke, Semicoke and Ferro-Nickel has been reduced to zero. An export duty on Iron ores/ concentrates and iron ore pellets has been raised to 50% and 45%, respectively, and a 15% export duty has been imposed on pig iron and several steel products.

Infrastructure Transport

07 Apr 2026

Tunnelling Begins for Thane, Borivali twin tunnel project

Tunnelling work has commenced for the 11.84-km Thane–Borivali Twin Tunnel, set to be India’s longest urban road tunnel, marking a key milestone in Mumbai’s infrastructure development.As per a post shared by Mumbai Metropolitan Region Development Authority on social media platform X, the tunnel boring machine (TBM) ‘Nayak’—the country’s largest single-shield hard rock TBM for an urban tunnel—was launched by Devendra Fadnavis on Tuesday. The event was attended by Eknath Shinde and Sunetra Pawar, among other dignitaries. A second TBM, ‘Arjuna’, is expected to be launched so..

Large Format Store Planned At M G Road Metro Station

M G Road station in Bengaluru is set to host the city’s first large-format commercial and experience space, with planning led by Bangalore Metro Rail Corporation Limited. BMRCL has invited proposals to develop and operate a central business district destination at the Purple?Pink Line interchange. The plan positions the station as a commercial hub designed to serve a broad commuter base across the city. The proposal is part of a broader effort to activate transit nodes commercially. Tender documents set a minimum monthly rental of Rs 0.944 million (mn), inclusive of GST, for the large-format..

Government Cancels Auction Of Eleven Critical Mineral Blocks

The government has cancelled the auction of 11 critical and strategic mineral blocks after receiving a poor investor response and failing to attract a sufficient number of qualified bidders. The decision represents a setback to plans to ramp up domestic exploration and production of critical minerals amid global supply chain disruptions and rising demand for materials used in clean energy and advanced technologies. The mines ministry issued an annulment notice setting out the reasons for the cancellations. The annulment notice indicated that the auction process for five mineral blocks was canc..