October 11, 2008

Cabinet Committee on Prices likely to meet on April 15

It is reported that Cabinet Committee on Prices is likely to meet on April 15th 2008 to discuss further options before the government including ban on steel export and increasing duty on iron ore export to control inflation.

As per report, union finance ministry has sent a detailed note for consideration of the CCP. The options include reducing excise on steel.

It may be noted that after the wholesale price based index, inflation, touched a 3 year high of 7.4%, the government announced ban on cement export and withdrawal of incentives on export of steel as well.