‘Govt not to interfere in domestic steel prices issue’
Financial Express

Union steel minister Ram Vilas Paswan on Tuesday said his ministry has no intention to intervene in the domestic steel prices issue, since the previous experience was bitter.
“Last time, when we tried to do it, there was a severe criticism from all over, including the media. We have thus taken a decision not to intervene in that matter,” Paswan said at a CII conference.

Last month, the ministry's intervention had prompted steel producers to reduce prices by Rs 500-1,000 on steel. Steel producers had hiked prices by up to Rs 2,500 to pass on the increased input costs to costumers.
He indicated that if the price goes up ‘exuberantly high’, there could be interference from the ministry.
“It’s not our policy to intervene in the prices until and unless it goes up exuberantly high," he said.
Asked what would be the limit beyond which the government may step in, he evaded any direct answer saying, “We have a price-monitoring committee and it looks after the pricing issue.”