Union Cabinet approves PLI Scheme for Specialty Steel; India imported 4 million tonnes of Specialty Steel resulting in Forex outgo of approx. Rs. 30,000 cr in 20-21

The Steel sector will get an impetus with this crucial Cabinet decision.

pm narendra modi

Cabinet Decision via PIB India:

Union Cabinet, chaired by the Prime Minister, Shri Narendra Modi, approved the Production Linked Incentive (PLI) Scheme for specialty steel.

The duration of the scheme will be five  years,  from 2023-24 to 2027-28. With a budgetary outlay of ₹6322 crores, the scheme is expected to bring in investment of approximately ₹40,000 crores and capacity addition of 25 MT for speciality steel.

The scheme will give employment to about 5,25,000 people of which 68,000 will be direct employment.

Speciality steel has been chosen as the target segment because out of the production of 102 million tonnes steel in India in 2020-21, only 18 million tonnes value added steel/speciality steel was produced in the country.

Apart from this out of 6.7 million tonnes of imports in the same year, approx. 4 million tonnes import was of specialty steel alone resulting in FOREX outgo of Approx. Rs. 30,000 crores.

By becoming Aatmanirbhar in producing speciality steel, India will move up the steel value chain and come at par with advanced steel making countries like Korea and Japan.

It is expected that the speciality steel production will become 42 million tonnes by the end of 2026-27.

This will ensure that approximately 2.5 lakh crores worth of speciality steel will be produced and consumed in the country which would otherwise have been imported.  

Similarly, the export of specialty steel will become around 5.5 million tonnes as against the current 1.7 million tonnes of specialty steel getting FOREX of Rs 33,000 crore.

The benefit of this scheme will accrue to both big players i.e. integrated steel plants and to the smaller players (secondary steel players)

Specialty steel is value added steel wherein normal finished steel is worked upon by way of coating, plating, heat treatment, etc to convert it into high value added steel which can be used in various strategic applications like Defence, Space, Power, apart from automobile sector, specialized capital goods etc.

The five categories of specialty steel which have been chosen in the PLI Scheme are:

  1. Coated/Plated Steel Products
  2. High Strength/Wear resistant Steel
  3. Specialty Rails
  4. Alloy Steel Products and Steel wires
  5. Electrical Steel

Out of these product categories, it is expected that after completion of the Scheme India will start manufacturing products like API grade pipes, Head Hardened Rails, electrical steel (needed in transformers and electrical appliances) which are currently manufactured in very limited quantity or not manufactured at all.

There are 3 slabs of PLI incentives, the lowest being 4 % and highest being 12% which has been provided for electrical steel (CRGO).

The PLI Scheme for specialty Scheme will ensure that the basic steel used is ‘melted and poured’ within the country which means that raw material (finished steel) used for making specialty steel will be made in India only, thereby ensuring that Scheme promotes end to end manufacturing within the country.

Govt receives 27 proposals from private entities for undertaking various space activities in India: Dr Jitendra Singh

Department of Space:

Union Minister Dr Jitendra Singh today said that 27 proposals from private entities were received so far for undertaking various space activities in India.

In a written reply to a question in the Rajya Sabha, he said, the types of proposals include

building and launching of Launch vehicles,
building, owning and operating Satellites,
providing Satellites based services,
establishing Ground segments,
Research Partnerships and providing Mission services.  

The global space economy is poised to grow over a trillion USD in the next two decades.

With the space sector reforms, Indian Private Space Industry is slated to contribute to the core elements of global space economy ─ space-based services, launch services, manufacturing of launch vehicles and satellites, establishment of ground segment and launch infrastructure ─ to a considerable extent.

Participation of private sector including academic institutions, start-ups and industries in end-to-end space activities is expected to expand the national space economy, generate more employment opportunities and create better manufacturing facilities.

Union Cabinet approves establishment of an Integrated Multi-purpose Corporation for the Union Territory of Ladakh

Cabinet via PIB India:

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the establishment of an Integrated Multi-purpose infrastructure Development Corporation for  the Union Territory of Ladakh

The Cabinet also approved the creation of one post of Managing Director, for the corporation in the pay scale of Rs.1,44,200 – Rs.2,18,200 level.

The authorized share capital of the Corporation will be Rs.25 crore and recurring expenditure will be around Rs. 2.42 crore per year. 

It is a new establishment. Presently, there is no such similar organization within the newly formed UT of Ladakh. 

The approval has an inherent potential for employment generation as the corporation will be undertaking various kinds of developmental activities.

Corporation will work for industry, tourism, transport and marketing of local products and handicraft. Corporation will also work as main construction agency for infrastructure development in Ladakh.

The establishment of corporation will result in inclusive and integrated development of the Union Territory of Ladakh.  This will, in turn, ensure socio-economic development of the entire region and population of the Union Territory.

The impact of development will be multi-dimensional.  It will help in further development of human resources and better utilization thereof. 

It increases domestic production of goods and services and will facilitate their smooth supply.  Thus, the approval will help in realizing the goal of Atmanirbhar Bharat.

In politically motivated cases, the truth is close to zero per cent: P Chidambaram

P Chidambaram – Former Union Finance Minister:

In the first judgement in the Delhi riots cases, the Court found that the “prosecution has miserably failed to prove its case”

The Court also concluded that “there is no testimony worth its salt which connects the accused to the present offence”

There is a lesson for those who believe that all that is said in the FIR or Chargesheet is the truth and nothing but the truth.

In politically motivated cases, the truth is close to zero per cent

Undeniably, the Delhi riots took place but the real culprits may have gotten away because the Police were busy implicating innocent people

Farmers are burning crops since they cannot afford transport to markets: Subramanian Swamy

Dr Subramaninan Swamy – MP, Former Union Minister:

Farmers of Madurai TN are suffering since prices of petrol, diesel, and kerosene have skyrocketed thanks to inane Union Budgets.

Farmers are burning crops since they cannot afford transport to markets.

DMK state govt should abolish state taxes on some items to give relief.

Ambala Kotputli Corridor is being constructed at record speed: Nitin Gadkari

Ambala Kotputli Corridor is being constructed at record speed.

The project is 70% complete and is likely to be opened to traffic by February 2022.

Nitin Gadkari – Union Minister

I am privileged to be a loyal worker of BJP.. : BS Yediyurappa

BS Yediyurappa – CM, Karnataka:

  • I am privileged to be a loyal worker of BJP.

  • It is my utmost honour to serve the party with Highest Standards of Ethics & Behaviour.

  • I urge everyone to act in accordance with party ethics & not indulge in protests/indiscipline that is disrespectful & embarrassing for party.

The first 10 cr doses took around 85 days while the last 10 cr doses have taken 24 days: PM Narendra Modi on the rising speed of India’s vaccination program

Ministry of Parliamentary Affairs:

Prime Minister Shri Narendra Modi interacted with floor leaders of all parties of both houses of the Parliament to keep them informed of the trajectory of COVID-19 in India and the Public Health Response to the Pandemic.

PM thanked all leaders for participating in the meeting and giving very practical inputs and suggestions and added that inputs from different parts of the country help immensely in policy design.

PM said that the pandemic should not be a matter of politics & is a matter of concern for entire humanity. He added that mankind hasn’t seen such a pandemic in the last 100 years.

PM also spoke about the efforts being made to ensure one oxygen plant in every district across the country.

PM informed leaders about the rising speed of India’s vaccination program and how the first 10 crore doses took around 85 days while the last 10 crore doses have taken 24 days.

He also informed the leaders that the daily closing stocks show an average of more than 1.5 crore vaccines at the end of the day throughout the country.

PM stressed the need to properly plan the vaccination drives at the district level based on the advance availability indicated by the Central Government to ensure no inconvenience to the people.

PM said that it is a matter of concern that around a significant number of Healthcare workers and Frontline workers are yet to get the vaccine even after 6 months since the drive commenced & added that states need to be more proactive towards this.

PM spoke about the need to stay vigilant looking at the situation in various countries. PM added that mutations make this disease very unpredictable, and hence we all need to stay together and fight this disease.

PM also spoke about India’s unique experience of using technology in this pandemic in the form of Cowin & Aarogya Setu.

Former Prime Minister HD Deve Gowda lauded the PM for his constant monitoring & working tirelessly through the pandemic.

Leaders across parties thanked the PM for his efforts through the pandemic. Leaders also spoke about their own unique experiences with the disease. They also highlighted the situation in various states and spoke about the vaccination drives in their respective states.

They also spoke about the need to constantly ensure Covid appropriate behaviour. Leaders unanimously appreciated the presentation given to them for its rich information and insights.

A detailed presentation was given by Health Secretary Shri Rajesh Bhushan. He informed that as of date, only 8 States have more than 10,000 cases with majority of caseload in the State of Maharashtra and Kerala. Just 5 states have a positivity rate more than 10%.

It was informed that throughout the Pandemic, the Prime Minister held 20 meetings with CMs of States while the Union Health Minister held 29 meeting with States. The Union Cabinet Secretary briefed the State Chief Secretaries 34 times while 166 Central Team deployed to aid 33 States/UTs in COVID-19 management

India had augmented its drug availability throughout the Pandemic. CDSCO permitted the increase in number of Remdesivir manufacture site from 22 in March to 62 in June which increased the production capacity from 38 to 122 lakh vials per month.

Similarly, Import of Liposomal Amphotericin was encouraged which saw the cumulative allocation rise from just 45,050 to 14.81 lakh. While cases are declining at present, States have been advised to maintain buffer stocks of drugs to address any future surge in Covid cases with stress on minimum 8 drugs identified by the Union Health Ministry