The Union Mines Ministry has expressed its reservation over
the Finance Ministry's decision to increase the export duty on low-grade iron
ore in the country.
“The Mines Ministry is not favourably inclined towards
increase in the export duty,” Mr A.K. Srivastava, Additional Secretary,
Ministry of Mines, told reporters here today on the sidelines of a two-day long
conference on 'Mining for Sustainability' organised by the Federation of Indian
Mineral Industries (FIMI).
He said the Ministry has already written to the Government
about their views, which might be considered during the Union Budget.
“There is always a budget. The final call on the hike would
be taken during budget,” Mr Srivastava said adding that there is always a
possibility that the Central Government might revisit it during the
presentation of budget.
The export duty was hiked from 20 per cent to 30 per cent
from December 30, 2010 onwards by the Finance Ministry to channelise the iron
ore to Indian steel industries.
Mr Srivastava said at least low-grade ores, which are not
consumed by the steel industry, should be spared from the hike.
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