Government to launch another PLI scheme for speciality steel: Steel Secretary
The government is working on the another round of the PLI scheme for speciality steel as the response for the first round of the initiative did not meet expectations, according to Steel Secretary Sandeep Poundrik.
The government is working on the another round of the PLI scheme for speciality steel as the response for the first round of the initiative did not meet expectations, according to Steel Secretary Sandeep Poundrik. The top ministry official made the remarks at CII Steel Summit 2024 in the national capital on Friday.
In his address, Poundrik said speciality steel is still one area where more is needed to be done. The government brought a PLI to incentivise specialities steel but the offtake was not as expected.
"So we are bringing another round of PLI so that we can get more interest in the speciality steel business," he said.
Later speaking to PTI, the secretary said the government had launched Rs 6,400 crore PLI Scheme for speciality steel, out of that only Rs 2,600 crore could be allocated.
Speciality steel is high grades used in sectors like defence, automobile, and electrical among others.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Retirement Planning: SIP+SWP combination; Rs 15,000 monthly SIP for 25 years and then Rs 1,52,000 monthly income for 30 years
EPF vs SIP vs PPF Calculator: Rs 12,000 monthly investment for 30 years; which can create highest retirement corpus
Retirement Calculator: 40 years of age, Rs 50,000 monthly expenses; what should be retirement corpus and monthly investment
SBI 444-day FD vs Union Bank of India 333-day FD: Know maturity amount on Rs 4 lakh and Rs 8 lakh investments for general and senior citizens
Home loan EMI vs Mutual Fund SIP Calculator: Rs 70 lakh home loan EMI for 20 years or SIP equal to EMI for 10 years; which can be easier route to buy home; know maths
03:26 PM IST