The Minister of Steel, Shri Beni Prasad Verma has mention that the total production, consumption and export details of iron ore and finished steel during the last three financial years are given below:
| Finnished Steel | ||||
|---|---|---|---|---|
| Year | Production for sale(MnT) | Consumption (MnT) | Export | |
| QTY(MnT) | QTY(Rs. Crores) | |||
| 2010-11 | 68.62 | 66.42 | 3.64 | 17511.4 |
| 2011-12 | 75.7 | 71.02 | 4.59 | 21399.8 |
| 201213 (provisional) | 77.62 | 73.33 | 5.25 | 25874.5 |
| Iron Ore | ||||
| Year | Production for sale(MnT) | Consumption (MnT) | Export | |
| QTY(MnT) | QTY(Rs. Crores) | |||
| 2010-11 | 207.16 | 105.23 | 97.66 | 41295.86 |
| 2011-12 | 167.29 | 110.98 | 61.74 | 33911.75 |
| 201213 (provisional) | 135.85 | 124.8 | 18.37 | 10372.02 |
In a written reply in the Rajya Sabha today Shri Verma said, profits and revenue generation of steel companies depend upon various factors such as source of raw materials, scale of operation, cost of manpower, etc., of which supply of iron ore is one of the main factors. The production of iron ore in India is in flood of the total estimated domestic consumption by the iron and steel industry.
The Minister said. fiscal measures have already been taken by Government to discourage export of iron ore and to improve availability of iron ore for the domestic iron and steel industry at affordable price. An export duty of 30% ad valorem is presently levied on all varieties of iron ore (except pellets).
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