TNPSC Current Affairs May 2017
New National policy for Steel 2017
The Union cabinet has given its approval for National Steel Policy (NSP) 2017. The meeting was chaired by Prime Minister Narendra Modi.
The new policy will seeks to enhance domestic steel consumption and ensure high quality steel production and create a technologically advanced and globally competitive steel industry.
In Simple the new National Steel Policy 2017 aims to make India self-sufficient in steel production.
Features of the NSP 2017(source PIB)
- New Policy will Create self-sufficiency in steel production by providing policy support & guidance to private manufacturers, MSME steel producers, CPSEs
- It Encourage adequate capacity additions,
- Development of globally competitive steel manufacturing capabilities, Cost-efficient production
- Domestic availability of iron ore, coking coal & natural gas, Facilitating foreign investment
- Asset acquisitions of raw materials & Enhancing the domestic steel demand.
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