By Our Correspondent
NEW DELHI/BHUBANESWAR: Union Minister of Steel, Shri Ram Chandra Prasad Singh in a written reply in the Rajya Sabha on Monday said that the production Linked Incentive (PLI) scheme covers 5 broad product categories of Specialty Steel with an outlay of Rs 6,322 crores to be released over 5 years. The detailed guidelines for the scheme have been notified on 20th October, 2021.
The scheme envisages production linked incentive to companies registered under the Companies Act, 2013 which qualify through the application process given in the guidelines and achieve committed incremental production prescribed for each product sub-category and make minimum prescribed investment in creating new capacity for manufacturing the applied sub-category product. The scheme does not envisage state wise allocation.
National Steel Policy, 2017 envisages development of a technologically advanced and globally competitive steel industry that promotes self-sufficiency in steel production. Steel being a de-regulated sector, government acts as facilitator, by creating enabling environment for development of steel sector. In line with the National Steel Policy, 2017, various initiatives taken by the Government are as following:-
(i) Notification of Domestically Manufactured Iron & Steel Products (DMI&SP) Policy for promoting procurement of Made in India steel.
(ii) Notification of Steel Scrap Recycling Policy to enhance the availability of domestically generated scrap.
(iii) Issuance of Steel Quality Control Order to stop manufacturing and import of non-standardized steel.
(iv) Steel Import Monitoring System (SIMS) for advanced registration of steel imports.
(v) Production-Linked Incentive (PLI) Scheme for Specialty Steel with an outlay of ₹6,322 cores.
(vi) Engagement with various stakeholders including industry associations and leaders of domestic steel industry to address their issues by the concerned Ministries/Departments of the Central Government and State Governments.
(vii) Engagement with relevant stakeholders including from Railways, Defence, Petroleum and Natural Gas, Housing, Civil Aviation, Road Transport and Highways, Agriculture and Rural Development sectors to enhance the steel usage and overall demand for steel in the country.
(viii) Establishment of Project Development Cell in the Ministry to attract and facilitate investment in the steel sector
