The policy also withdraws benefits for the steel exporters; however, interest subvention has been extended by one year.

While export target of $160 billion was missed in FY’08, the minister has set a target of $200 billion for the coming year.

The IIP has been 8.6 per cent against 11.2 year-on-year. January IIP rate has been revised to 5.8 per cent against 5.3 per cent earlier.

For February, mining production growth has been 7.5 per cent whereas manufacturing growth has been 8.6 per cent.