India’s crude steel production capacity swelled by 7.2% in the financial year 2010-11 to 78 million tonnes per annum (mtpa) compared to 72.76 mtpa in the previous year, according to the United Progressive Alliance (UPA), Report to the People 2010-11 released by the Prime Minister Manmohan Singh. The presser also highlighted that total output of crude steel stood at 68.32 mtpa during 2010.
The official statement opined that public sector steel companies performed well during the year and their combined profit after tax was Rs 8,605 crore during the period April-December 2010. The process of drafting a new National Steel Policy has been initiated and a five year strategy paper has been prepared for promotion of the steel sector. A policy paper on research and development has also been prepared with special focus on beneficiation, coal ash reduction and promotion of high grade value added steel in the country, the statement emphasized.
It also avowed that government in its bid to enhance the productivity, efficiency and competitiveness of the steel sector, has approved a number of innovative research and development proposals and research projects at a cost of Rs 442 crore.
Moreover, the Report to the People 2010-11 also underscored that the demand for major fertilizers in the country is on the rise and has been the highest during 2010-11. During the year approximately Rs 65,000 crore has been paid as subsidy to fertilizer companies to make subsidized fertilizers available to farmers at affordable prices.
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