Metals and Mining Sector : Budget Spotlight
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Transcript of Metals and Mining Sector : Budget Spotlight
Metals and Mining – Budget Spotlight
What To Expect For The Metals And Mining Sector?
Spotlight: Metals and Mining Sector
by Saurabh Agrawal, Research Analyst
• Broadly, we expect union budget to have neutral impact on the Metals & Mining sector
• Iron ore export duty may see a slight cut or remain same • We do expect the excise duty to increase to 12%, which will prove to be
marginally negative for the sector • There are expectations that greater tax deductions for interest paid on home
loans might come through in this budget which would help revive steel intensive real estate sector. This would prove to be beneficial for long steel demand in India
• Also, any substantial increase in slabs for income tax calculation, if proposed, would help boost consumer durable and automobile demand, which will further help in strengthening the demand for flat steel in India
• We believe that higher fund allocation for infrastructure development of road,
power, railways, ports and airports would be needed to revive steel demand in India. This may not be easy given the fact that the government might choose fiscal prudence
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