National Steel Policy In India

The Minister of State for Steel, Mines and Labour and Employment, Shri Vishnu Deo Sai has said that a New National Steel Policy is being drafted to replace the National Steel Policy, 2005, the process for which is on and no definite time frame can be given at this stage.

In a written reply in the Lok Sabha today, Shri Vishnu Deo Sai has said that as per the National Steel Policy, 2005, the total production of steel is projected at 110 million tonnes by the year 2019-20. The New National Steel Policy is in draft stage and it is not possible to give any projection for either the steel production or the corresponding iron ore requirement.

The Minister said that to ensure availability of iron ore at reasonable prices to the domestic steel industry, the Government has increased the export duty to 30% on export of iron ore and imposed export duty of 5% ad-valorem on the export of iron ore pellets.

Keyword : National Steel Policy In India, Policies for steel Industries India