Indian government measure against slow down.

Indian government has taken the following measures in helping the steel industry, including small and medium steel producers, in overcoming the situation arising out of global financial crisis.

These are

1. Export duty on steel items has been withdrawn wef October 31st 2008

2. DEPB on steel items restored wef November 14th 2008

3. Import Duty on iron and non-alloy steel items re-imposed at 5%, wef. November 18th 2008

4. Excise Duty on steel items reduced from 14% to 10% wef December 7th 2008.

5. Countervailing duty on TMT bars and structurals reintroduced wef January 2nd 2009

6. Excise Duty on steel items further reduced from 10% to 8% on February 24th 2009