Steel Minister Ram Vilas Paswan studied economics a long time ago, and is quite perplexed at what’s happening in his industry. At a recent steel conference in the capital, the minister recalled how all he’d learnt about economics at school was now being stood on its head. “We were taught that when prices go up, demand falls and vice-versa. However, the opposite is happening now in the steel industry, where both the demand and prices are low”, he said.
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