"In the past we have seen an unprecedented dip in world prices with many countries putting up import barriers. To provide a level playing field, it is important to not only retain the existing level of import duties but also hike by an average five per cent import tariffs on steel", SAIL chairman and managing director Arvind Pande said here.

The increased import tariffs still would be within the World Trade Organisation (WTO) bound rates, Pande said.

For increasing consumption of steel which is one of the lowest in India, excise duty should be lowered from the existing level of 15 per cent, Pande said.

The Indian industry has been suffering badly due to recessionary trends in both global and domestic markets and is looking forward to a pick up in industry activity.

But, for this to happen, mere plan outlays would not beenough, quick financial closure of projects was necessary at this juncture, Pande said.

Pande said the immediate thrust of the government should be to give a boost to infrastructure projects.