Updated By: LatestGKGS Desk
NITI Aayog to set up new steel policy scheme to promote industry
NITI Aayog has set up a new steel policy scheme to boost $100 billion dollars and target 300 million tonnes by 2025
The simple changes In the Steel Policy 2012 does not influence much and the cheap imports from China, Japan and Korea impact the sales and policies which negatively influenced its capacity to repay the debts.
It is necessary to make transformational changes to bring back the steel policy on track.
The commission feels that there is a need for the suspicion of the entire value chain with the industry to discover the blockages in the sector
An ecosystem needs to be created for profitability of the related industry and ensures that none of these related industry make windfall gains at the expense of others.
Banks and transport unions needs to be consulted and involve them in formulating the new policy to ensure accessibility of long term finance at competitive rates and at uniform prices.
