Government mulls awarding infra status to steel sector: Report

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NEW DELHI: Shares of metal firms hogged limelight after a report said the federal government could give infrastructure standing to the sector.

“Authorities is contemplating varied choices for selling the metal sector. It mulls awarding infra standing for the sector,” ETNOW stated quoting sources.

The BSE Metallic index traded 0.69 per cent greater at 9,209 at round 12.40 pm (IST), whereas the benchmark BSE Sensex was down 1.12 per cent at 38,181.

The report additional added that the Division for Promotion of Business and Inside Commerce (DPIIT) is in talks with metal ministry to impose BIS requirements for all metal merchandise.

The federal government could introduce offset coverage for metal. “Offset coverage could embrace minimal 30 per cent native addition for import of high-grade metal,” ETNOW stated.

The empowered committees may additionally be set as much as expedite clearances, the report added. These committees to quick monitor land, infra, forest and surroundings clearances.

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