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Steel industry seeks booster for demand revival amid economic slowdown

Against this backdrop, says the industry, the corporate tax cut announced by the central government is not going to change much for now

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Ishita Ayan Dutt Kolkata
Spending on public infrastructure and a cut in goods and services tax (GST) on automobiles is required to spur demand for steel in the immediate term, say steel industry heads.

Their prices are at a 10-month low, with the landed cost of import now higher than domestic prices by seven to eight per cent. The margin squeeze has prompted many secondary producers to cut output.
 
Against this backdrop, says the industry, the corporate tax cut announced by the central government is not going to change much for now. It is a positive for the long term but a

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First Published: Sep 30 2019 | 2:15 AM IST

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