Expressing his views on the forthcoming Union Budget, Pande said: "Considering the government's resource constraints, our tax structure needs to be rationalised to improve revenues and reduce non-Plan expenditure and subsidies. Simplification of the central excise structure should be given priority." For the steel sector per se, he said, "excise needs to be lowered from the existing level of 15 per cent which will lead to greater consumption."

Pointing out that the past year has seen an unprecedented dip in world steel prices with many countries putting up import barriers, the Sail chairman said: "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 of 5 per cent import tariffs on steel, which isstill within the WTO-bound rates." Pande said the immediate thrust of the Government should be on giving a boost to the economy through actual spending on infrastructure projects.