In the Union Budget 2023, Hon’ble Finance Minister Nirmala Sitharaman announced measures for steel producers which led to
the rise in the shares of the steel sector.
Against this backdrop, Harsh Shah, Partner, Economic Laws Practice (ELP) has been quoted in an article titled ‘Budget 2023: Tata Steel, Jindal Steel shares climb up to 6% as FM extends duty exemption on inputs’ published by Business Today. He says, ‘The continuation of exemption for one more year comes as a huge impetus to the secondary steel manufacturing industry in the country, which is estimated to be contributing around 35% to total steel production in India’.
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