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New Delhi, April 9 A Committee of Secretaries (CoS) looking into the spiraling price situation in the steel and iron ore sectors has recommended cut in excise duty in steel from 14 per cent to 8 per cent.

Besides a ban on steel exports from the country, the CoS, which met here today, recommended a shift in the basis of export duty on iron ores from the existing specific duty to an ad valorem duty. It also recommended removal of import duty on steel. Also, official sources said that a suggestion has been made to bring down the railway freight rates on movement of steel and iron ore within the country.

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