Finished steel import duty may be cut

 The steel ministry is likely to recommend a reduction in the peak import duty on finished steel to 20 per cent from the current 25 per cent in the Budget for 2004-05.

 For other categories of steel, the ministry may opt for a differential import duty structure. However, the Kelkar committee had recommended an uniform reduction in import duty to 10 per cent on all products in the value-addition chain