This is a welcome and positive budget for the steel industry. Govt. has rightly recognised the need to conserve mineral wealth, especially iron ore, for value addition within the country. Levy of export duty on iron ore and concentrates is timely. It will be appropriate if revenue so generated is utilised for developing infrastructure in and around mineral bearing areas. Also heartening is the fact that the much awaited phasing out of CST is finally going to begin in 2007-08.