The government has halved import duty on certain grades of steel to 5 per cent with a view to cut cost of raw material for domestic industry.The Central Board of Excise and Customs (CBEC) in a notification said customs duty on import of “hot rolled coils, cold-rolled Magnesium Oxide (MgO) coated and annealed steel, hot rolled annealed and pickled coils and cold rolled full hard (used) for the manufacture of cold rolled grain oriented steel (CRGO) steel” has been cut to 5 per cent with immediate effect.CRGO are electrical steel grades used for stampings and cores of electrical transformers and other electrical appliances.