Iron ore export faces 15% duty
Government is believed to have decided to impose 15% export duty on iron ore, used for making steel, which has seen a 50% increase in prices since January, thereby fuelling inflation. The decision was taken at the meeting of the Committee of Secretaries (CoS) on May 30, a highly placed source said. The CoS has also decided to roll back export duty on steel, barring primary and semi-finished products, in return for the Rs 4,000 per tonne reduction in prices announced by them early last month.