|Photo: Business Standard|
India will raise the import duty on steel by 5 percentage points from April 1, Finance Minister Arun Jaitley said on Saturday, to stem a flow of cheap supplies from China and Russia.The Economic Times, 28 February, 2015 wrote:
A major thrust to housing construction in the budget this year, and to rural housing in particular will boost steel consumption at a time when domestic demand is low. In his budget speech the finance minister Arun Jaitley proposed a roof for each family. To fulfill the promise, some four crore houses have to be built in urban areas and another two crore houses have to come up in rural areas by 2022.
That Narendra Modi is just a bundle of media created hypes, has been proved once, again by the presentation of this low-profile-plain-vanilla Budget-2016; which has nothing much to offer except infrastructure push and some long term promises. It cannot be denied that the Budget-2016 lays significant emphasis on infrastructure — roads, power, ports, rail, airports and housing; which aims to kick-start the investment cycle in the medium term. On the flip side it will create more problems for the self-employed individuals, as the service tax shoots up.