Budget 2012 expectations from Adhunik Metaliks 

Adhunik Metaliks Ltd which emphasizes on steel, power and
mining industry expects a rise in import duty on HR coil and says that Government
might take up infrastructure space as a priority in its upcoming budget.

“The Union budget of 2012-13 comes at a time when there are
significant signs of slowdown in the economy. The economy is in desperate needs
of a policy boost from the Indian Government for its revival,” said Manoj
Agarwal, Managing Director, Adhunik Metaliks.

Budget expectations of Adhunik Metaliks Ltd on infra, mining
and power are as follows:

* Rise in import duty on HR coil.

* Abolish or reduce the export duty on iron ore fines, lumps
and pellets to increase the profit margins of miners.

* Provide additional incentives to iron ore producers to add
value to the mineral and pelletisation so as to encourage its conservation
for domestic use.

* Allow mineral exploration on a first-come-first-served
basis rather than by auctioning    

* Basic customs duty on import of Manganese ore should be
abolished so as to reduce the shortfall gap.

* Duty levy on import of power equipment.

* Boost to power generation for independent, merchant as
well as captive plants.

* Assistance to raise low‐cost and long‐term resources to re‐finance
power projects.

* Increased allocation to infra sector.

* Allow higher investment in Infrastructure tax saving bonds
for a robust debt market for infrastructure.

* Faster clearances for mining projects is required to avoid
delays and bottlenecks in the industry.