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| Steel cos for boost to infra; fiscal dose in budget |
| Press Trust of India / New Delhi Jun 08, 2009, 17:03 IST |
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Domestic steel makers want the government to continue with its thrust on the infrastructure sector in the upcoming annual budget, which will in turn create more demand for the commodity.
"We expect a boost to the infrastructure sector in the budget," SAIL Chairman S K Roongta told PTI.
The government has unveiled as many as three fiscal packages in the past 6-7 months to stimulate the ailing economy and rejuvenate the infrastructure sector which was hit by the economic slowdown and liquidity crunch.
Apart from the measures to boost the infrastructure sector, domestic steel major Essar steel has voiced for yet another fiscal package to create demand in the economy and take necessary action to curb the threat of cheap imports.
The company expects the government to expedite the land acquisiton and mine linkage processes so that the sector becomes an attractive investment option.
"The government should make a significantly higher allocation for the creation of fixed assets like railways, roads, transports, housing and take necessary steps to attract investment in the steel sector to meet the projected demand growth," Essar Steel Business Group CEO Jatinder Mehra said.
"Moreover, government should give adequate protection to the domestic firms against imports of cheap steel items, on the one hand, and promote export of capital goods like auto component, on the other," he added.
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