ZEE BIZ EXCLUSIVE: Modi government puts PLI scheme on hold for steel sector; KNOW WHY; also know how major steel stocks Tata Steel, SAIL performed
Zee Business' Chetani Bhutani tells that the government has for now put the PLI scheme on hold for the steel sector. This is because of the view that the industry was earning good profits. The view has been taken by the Department of Promotion of Industry and Internal Trade (DPIIT) which works under the aegis of the Ministry of Commerce and Industry
A big news for the steel sector is now emerging and Zee Business’ Chetan Bhutani tells about the complete action in this EXCLUSIVE report. There has been a lot of buzz around the Production Linked Incentive (PLI) Schemes of the government including the one related to the steel sector.
Bhutani said that the government has for now put the PLI scheme on hold. This is because of the view that the industry was earning good profits. The view has been taken by the Department of Promotion of Industry and Internal Trade (DPIIT) which works under the aegis of the Ministry of Commerce and Industry.
See Zee Business Live TV Streaming Below:
Bhutani said that the government opines that the sector does not require this scheme immediately and if there will be a requirement, going forward, the government would reconsider it.
Bhutani broke this news citing his top sources.
He further said that the government thinktank NITI Aayog, Ministry of Steel and Ministry of Commerce had a meeting last week, where they mulled over the timing of the PLI scheme.
There were questions on the timing of the scheme along with the manner in which this scheme should be introduced, Bhutani said.
He said that his sources have revealed to him that the PLI scheme has been shelved for now and may come sometime later.
The government has no concrete proposal to get it approved from the Cabinet, Bhutani further said.
He said that initially there was a proposal to bring a PLI scheme on manufacturing of specialty steel between 5-15 per cent.
Zee Business Managing Editor Anil Singhvi said that it was correct to say that the steel companies were earning good profits and government’s action is in line with the current situation.
ZEE BUSINESS EXCLUSIVE
स्टील सेक्टर के लिए PLI स्कीम को होल्ड पर रख सकती है सरकार... DPIIT और स्टील मंत्रालय के बीच पिछले हफ्ते हुई चर्चा के बाद फैसला संभव- सूत्र#SteelSector #PLI @AnilSinghvi_ @BhutaniChetan pic.twitter.com/Hpt5u9yYfP
— Zee Business (@ZeeBusiness) July 12, 2021
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
Senior Citizen Latest FD Rates: Know what major banks like SBI, PNB, Canara Bank, HDFC Bank, ICICI Bank are providing on fixed deposits
Gratuity Calculator: Rs 38,000 as last-drawn basic salary, 5 years and 5 months of service; what will be gratuity amount?
EPFO Pension Schemes: Early pension, retirement pension, nominee pension and 4 other pension schemes that every private sector employee should know
Top 5 Small Cap Mutual Funds with best SIP returns in 1 year: See how Rs 25,000 monthly investment has grown in each scheme
Top 7 SBI Mutual Funds With Best SIP Returns in 1 Year: Rs 25,000 monthly SIP investment in No.1 fund has jumped to Rs 3,58,404
06:25 PM IST