Centre to levy a hike of ’50 percent’ export duty on iron ore exports

Days after the Center announced a raise iron ore export duty, the Goa government has asked for a waiver. Goa’s iron generally being second grade is under 50% Fe. It is not handled for steel making in the country. The state has mentioned the service of money to consider ‘nil’ export duty instead of 50 per cent on low grade iron ore exports, as was done since 2016.

The public authority has postponed traditions obligation on the import of a few unrefined components. It includes coking coal and ferronickel, utilized by the steel business. Thus, representating a move which will bring down the expenses and decrease the costs.

Likewise, to increment the homegrown accessibility, the obligation on commodities of iron export has surged to 50%. This, was additionally an indication by couple of steel experts to 15 percent.