Free MCX Tips : The Indian Government has said that the Government has initiated several steps to deal with the NPA problem and more are on the anvil to protect the domestic steel industry, media reported.
Commenting on the issue, Finance Minister Arun Jaitley told the media, "Highest NPAs are in steel sector... Second is national highways... buy in steel is cheaper than privately manufactured steel. Wherever, steel dumping is happening, we have imposed anti-dumping (duty). In some cases, import duty has been increased. There are other such proposition before the government and efforts will be made to encourage domestic industry."
“The government will endeavor to promote sale of domestic steel so that NPA in the sector is diminish. If the economic activity will increase, the utilization of steel will also go up and its price will become competitive," he added.
The Minister further added that almost 75 National Highways were at a standstill because of uncompetitive rates - the second area where Non Performing Assets (NPAs) have been created.
Commenting on the issue, Finance Minister Arun Jaitley told the media, "Highest NPAs are in steel sector... Second is national highways... buy in steel is cheaper than privately manufactured steel. Wherever, steel dumping is happening, we have imposed anti-dumping (duty). In some cases, import duty has been increased. There are other such proposition before the government and efforts will be made to encourage domestic industry."
“The government will endeavor to promote sale of domestic steel so that NPA in the sector is diminish. If the economic activity will increase, the utilization of steel will also go up and its price will become competitive," he added.
The Minister further added that almost 75 National Highways were at a standstill because of uncompetitive rates - the second area where Non Performing Assets (NPAs) have been created.
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