Pre-budget meetings have started and the finance ministry is due to meet with the aluminum and copper industry association on Tuesday.
The Ministry of Mines recommended an increase in tariffs from 7.5% to 10% on primary aluminum products and downstream products between 10 and 12.5%, compared to 7.5% currently at 10%, have sources told CNBC-TV18.
“To ensure cost competitiveness, the national aluminum industry has requested government assistance in reducing basic tariffs and correcting the reverse tariff structure on critical raw materials, especially coke. petroleum, caustic soda, aluminum fluoride, alumina, etc. for the value of the aluminum industry. chain. We have also called for an increase in the tariff rate of the base tariff for aluminum and articles from 10 to 15%, in line with the steel sector, ”the Aluminum Association of India told CNBC-TV18.
He added that an increase in the basic tariff of primary aluminum from 7.5% to 10%, scrap aluminum from 2.5% to 10% and downstream aluminum products from 7, 5% to 10% was also requested.
The ministry called for a reduction in tariffs and a correction of the reverse tariff structure for important raw materials like calcined petroleum coke, crude oil tap, caustic soda lye, etc.
(Edited by : Kanishka Sarkar)