As per the steel Ram Vilas Paswan, the Indian Government is likely to impose an import duty on steel and withdraw a 15% export tax to help domestic companies. Such a step will support companies like, Tata Steel, Steel Authority of India and many more. This step is required as global steel prices have fallen more than a fifth from this year's peak in June and July.
Moreover, Paswan added in his comment that Tata Steel and SAIL have suggested chopping of export duty and imposition of import duty, on the back of fall in the international prices.
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