The price of coking coal required for PCI, the technology used for reducing steel production cost, went up from an average of $61 per tonne in FY16 to $126 in FY19 and came down to $101 in FY20.
The Centre has frontloaded its market borrowing for FY21 and will wrap up the exercise by January 29, 2021, around the same time as in FY20, Bajaj said.
According to data released by the Controller General of Accounts earlier on Wednesday, fiscal deficit during April-August stood at 109.3 per cent of the annual target. This was 57 per cent higher than the corresponding period last year.
