Pol­icy to En­sure Cheap Iron Ore within a Month

The Economic Times - - Economy: Macro, Micro & More -

The gov­ern­ment is work­ing on a pol­icy ini­tia­tive to en­sure the avail­abil­ity of iron ore at a cheaper price and will come out with de­tails within a month. The de­vel­op­ment comes at a time when the steel sec­tor is reel­ing un­der the im­pact of high raw ma­te­rial costs. “What pol­icy steps we need to take to en­sure that iron ore is plen­ti­fully and cheaply avail­able is some­thing which we are work­ing on and there could be var­i­ous for­mu­la­tions to that,” an of­fi­cial said. “We are ex­am­in­ing those and hope­fully in a month or so we would be able to say that these are rec­om­men­da­tions,” the of­fi­cial said, adding that “Niti Aayog has been man­dated to ex­am­ine that. They will ex­am­ine that and come and give us the sug­ges­tions”.

NEW DELHI

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