2010 Budget Steel Industry Expectations

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The steel industry in India is progressing with every passing year and has gradually emerged as the fourth biggest steel producer in the world besides being the second biggest manufacturer of crude steel. In the year 2009, the government owned Steel Authority of India (SAIL) outshined its international counterparts like Posco, Nippon and ArcelorMittal by registering a net revenue of USD571 million.

The production of steel in India touched 27.49 million tonne in 2009 to meet the growing demand for total steel utilized in kitchen appliances, airports, retail stores, trains, etc. The demand for steel and its consumption is predicted to grow by 17% per annum till 2012. The increase in demand will be triggered by construction schemes valued around US$ 1 trillion.

Indian steel industry features among the world's largest iron-ore producers and saw a massive rise in its iron ore exports in 2009 by more than 20%. The sharp expansion of the industry has attracted an astounding FDI of over USD 237 billion.

2010 Budget Steel Industry Expectations of entrepreneurs and common man are higher tax exemptions in home loans where the purchasers is entitled for tax exemption upto ` 1,50,000 under Section 80C. Such measures would indirectly have a positive impact on steel industry which is associated with realty business.

PRADEEP, City:-Kanpur, Posted On :-2010-02-02 17:15:00
lower tax and free tax limit increase, soem more for salary middle class and soem more control over black money . most important politician should cover more for tax slab and their free entilement perks should be less
A K MISTRY, City:-West Bengal, Posted On :-2010-02-08 16:51:26
I EXPECT FROM FINANCE MINISTER TO SAVE I.T. IN ALL SERVICE HOLDER,/CHANGE SLAB 1,00,000 TO 400000 AS IT IS ,SIR.
ramakrishnan, City:-Nagpur, Posted On :-2010-02-09 16:32:49
please lessen taxes for the salaried and catch hold of those guys in business. it may be our salaries are high, but with taxes so high its 12 months work and 10 months salary
b.p. verma, City:-Chhattisgarh, Posted On :-2010-02-13 06:41:32
tax free for five lacks
, City:-Udaipur, Posted On :-2010-02-16 02:12:24
good


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