The new budget is an encouragement for the steel industry. The government has stressed on infrastructure development which will result in the growth of steel sector. Furthermore, keeping companies with a turnover below Rs. 250 crore in low corporate tax slab will boost steel business. The government has also emphasized on ‘Ease of Doing Business’ which will provide relief to traders. Besides, the empowerment of the Indian farmer will lead to increased sales of tractors and other agricultural equipment, which will, in turn, benefit the steel business. Thus, I welcome the Budget 2018.
