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MAJOR POLICY INITIATIVES AND DECISIONS
(BULLET POINTS)
MINISTRY OF STEEL
The apparent consumption of finished steel during 2004-05 stood at 334.00 lakh tonnes, which is higher by 7.2 per cent as compared to 311.69 lakh tonnes for the corresponding period last year.
The export of steel during 2004-05 estimated to be 42.00 lakh tonnes.
A new National Steel Policy formulated which target production of over 100 million tonnes of steel by 2020.
Initiative to merge IISCO with SAIL taken.
Initiatives also taken to rationalize iron ore prices by the Public Sector Iron Ore Companies.
An expert group constituted to suggest guidelines to be followed by State Governments in recommending to the Government of India mining lease for iron ore, chrome ore and manganese ore.
In the year 2004-05, SAIL’s profit before tax expected to be Rs. 5739 crore in comparison to 2628 crore during 2003-04.
Several steps taken to ensure availability of steel and stabilize the price in the domestic market.
BSC/SB/DN
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