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 need of a policy boost from the Indian government for its revival.
Infrastructure will be the focus area in this year's upcoming budget.
Some of our expectations from the Union Budget on infrastructure, mining & power are as under:
1. Rise in Import duty on HR Coils
2. Abolition or reduction the export duty on iron ore fines, lumps pellets to increase the profit margins of miners
3. Additional incentives to iron ore producers to add value to mineral and pelletisation so as to encourage its conservation for domestic use
4. Allow mineral exploration on a first-come-first-serve basis rather than by auctioning
5. Abolition of Basic customs duty on import of Manganese ore to reduce the shortfall gap
6. Impose Duty on import of power equipments
7. Boost power generation by Independent, Merchant and Captive plants
8. Provide assistance to raise low-cost and long-term resources to refinance power projects
9. Increase allocation to infra sector
10. Allow higher investment in Infrastructure tax saving bonds to give shape to robust debt market for infrastructure
11. Faster clearances for mining projects to avoid delays and bottlenecks
12. Interest Subsidy for energy efficient plant
The writer is managing director, Adhunik Metaliks
