Steel is a de-regulated sector. The Government acts as a facilitator, by creating a conducive policy environment for the development of the steel sector. The National Steel Policy (NSP) 2017 forecasts the following steel production/ capacity for the year 2030-31: – Sr. No. Parameter Projections (2030 – 31) (in Million Tons) Total crude steel capacity 300 Total crude steel production 255 Total finished steel production 230 The Government as a facilitator has taken the following measures to create a conducive policy environment for improving production and consumption of steel in the country: – Implementation of Domestically Manufactured Iron & Steel…
Author: Aruna Sharma
In a major step to reduce its overall debt liability, NHAI achieved a significant financial milestone with the successful pre-payment of bank loan amounting to Rs. 15,700 Crore. Retiring this debt ahead of schedule will result in an estimated interest savings of around Rs. 1,000 Crore. With this pre-payment, the outstanding debt liability of NHAI has come down to around Rs. 3,20,000 Crore. As per Government of India directions, InvIT monetization proceeds are to be exclusively used for NHAI debt repayment. The sum of Rs. 15,700 Crore was generated in FY 2023-24 through InvIT. During the Financial Year 2024 -…
Five broad categories of Specialty Steel were identified under the Production Linked Incentive (PLI) Scheme for Specialty Steel, which are – (i) coated/plated steel products; (ii) high strength/wear resistant steel; (iii) specialty rails; (iv) alloy steel products and steel wires and (v) electrical steel. Selected companies under the PLI Scheme for Specialty Steel have committed to an additional investment of about ₹29,530 crores and an additional direct employment for about 18,000 persons by the end of scheme tenure. Made in India’ branding of steel products provides for labelling of domestic steel products by way of a ‘Made in India’ label…
The Ministry of Coal, in collaboration with the Ministry of Power& Natural Gas, has facilitated a landmark joint venture agreement between two leading Maharatna CPSEs, Coal India Limited (CIL) and GAIL (India) Limited (GAIL) today (05.08.2024). This agreement marks a major step towards setting of a Coal to Synthetic Natural Gas (SNG) plant using surface coal gasification (SCG) technology. The plant to come up in Raniganjarea of Eastern Coalfields Limited, West Bengalis planned to produce 80000 Nm3 per hour ofSynthetic Natural Gas (SNG). The annual production is slated at 633.6 Million Nm3per hourwhich will require 1.9 million tonnes (mts) of coal.…
Prime Minister Shri Narendra Modi will inaugurate the 32nd International Conference of Agricultural Economists (ICAE) on 3rd August 2024, at around 9.30 AM at National Agricultural Science Centre (NASC) Complex, New Delhi. Prime Minister will also address the gathering on the occasion. The triennial conference, organised by the International Association of Agricultural Economists will be held from 02 to 07 August 2024. The ICAE is being held in India after 65 years. The theme for this year’s conference is, “Transformation Towards Sustainable Agri-Food Systems.” It aims to tackle the pressing need for sustainable agriculture in the face of global challenges…
(NDTV) Nitin Gadkari, Minister for Road Transport and Highways, has formally requested Finance Minister Nirmala Sitharaman to reconsider and withdraw the 18% Goods and Services Tax imposed on life and medical insurance premiums. This appeal comes in response to a memorandum from the Nagpur Life Insurance Union, which highlighted several pressing issues within the insurance sector to the minster. In a letter addressed to the Finance Minister, Gadkari emphasised that the memorandum’s primary concern was the GST applied to life and medical insurance premiums. Gadkari’s argument reads that the 18% GST, currently applied to both types of premiums, penalises individuals…
(NDTV) Two people have died and at least 50 others are missing after cloudbursts at three places in Himachal Pradesh this morning. The three cloudbursts caused major damage at Shimla, Mandi, and Kullu. In Shimla, where at least 20 people were reported missing, the district administration said the disaster management authority received information about a cloudburst near a hydroelectric power project at Samej Khad early today. A disaster response team has been rushed to the spot and top officials, including Deputy Commissioner Anupam Kashyap and district police chief Sanjeev Gandhi, are on their way. The cloudburst has hit road connectivity in the…
(NDTV) A seven-judge Constitution bench of the Supreme Court today okayed sub-classification within Scheduled Caste and Scheduled Tribe categories to provide reservation in jobs and education for the more marginalised among backward communities. The landmark verdict was passed by the bench led by Chief Justice of India DY Chandrachud by a 6:1 majority, with Justice Bela Trivedi dissenting. Six separate judgments were written. The verdict overrules the 2004 judgment of a five-judge Constitution bench in the case of EV Chinnaiah vs State of Andhra Pradesh. The other judges on the bench were Justice BR Gavai, Justice Vikram Nath, Justice Pankaj Mithal,…
Critical minerals such as lithium, copper, cobalt, graphite and other critical minerals are essential for the economy’s green transition. These minerals are essential for their uses in green technologies like solar panels, wind turbines, batteries, and electric vehicles which are integral to the transition toward clean energy and a low-carbon economy. The minerals like lithium, copper, cobalt, graphite and others are used in Electric Vehicle, Batteries, glassware, ceramics, fuel manufacturing and Lubricant. The minerals like potash, glauconite and phosphate has several uses in chemical and fertilizer industry. Geological Survey of India is a nodal agency of the Government of India…
There are 19 National Skill Training Institutes (NSTIs) out of 33 which are exclusively for women. These women NSTIs offer 19 courses under Craft Instructor Training Scheme (CITS) as well as 23 courses under Craftsmen Training Scheme (CTS). The women NSTIs also offer courses in trades like Computer Operator and Programming Assistant (COPA), Electronics Mechanic, Architectural Draftsman, Computer Software Application, Desktop Publishing Operator etc. to women trainees, both in CTS and CITS. Even trades like Electrician have been introduced in Women NSTIs at Indore and Vadodara. From the Session 2023-24, the trade of ‘Surveyor’ has been introduced in three women…