Report by OD bureau, New Delhi: The Union Minister of Steel, Beni Prasad Verma has said that the Per capita steel consumption in the country has risen from 38 kg to 59 kg. Chairing the meeting of the Parliamentary Consultative Committee attached to his Ministry here today, he said that India will soon become the second largest manufacturer of steel in the world. The functioning of Rashtriya Ispat Nigam Limited (RINL) was the agenda of the meeting.
Shri Verma said that steel capacity in the country has increased from 66 Mt in 2009 to 90 Mtpa in 2012. The Minister stressed on the importance of conserving raw material resources in the country and elaborated on the measures taken by the Government. He added that export duty on Iron Ore has been increased to 30% to curb exports of Iron Ore.
He further elaborated that the Government is stressing on R&D in the areas of beneficiation, pelletization etc. He also informed that for promotion of steel sector ‘National Steel Vision’ is being finalized. The Minister also told the members that a Steel Innovation Committee has been formed in the Ministry for promotion of innovative ideas in the steel sector.
RINL is one of the largest long product plants in the country with a production capacity of 3 million tones after the completion of the current expansion plant the capacity will further increase to 6.3 million tonnes.
RINL has been consistently making profits for the past many years. In the year 2011-12 RINL earned a Profit After Tax of Rs.751 crores in 2011-12. The company has also expanded its dealer network manifold. It has developed a network of 537 Rural Dealers and is in the process of appointing more dealers.
Some of the members complimented RINL on its continued profitability and asked the company about the progress of its expansion programme. Members asked the company to lay more stress on corporate social responsibilities and improve the access of people in backward areas to basic amenities. Some members expressed their view that RINL should be allotted captive mines while some stressed on the need for proactive action on deliberations of previous meetings.
Members of Parliament who attended the meeting; Shri Rakesh Sachan, Shri Yashwant N. Singh Laguri, Shri Jayawant Gangaram Awale, Shri Shivarama Gouda, Shri Jeetendra Singh Bundela, Shri Naranbhai Kachhadia, Shri Somendranath Mitra, Shri Premchandra Guddu, Shri Devji M. Patel from Lok Sabha and Shri Tapan Kumar Sen and Shri Nandi Yellaiah from Rajya Sabha and Shri Premdas Katheria (Lok Sabha) and Shri Sabir Ali (Rajya Sabha) were the permanent special invitee.
The Secretary, Ministry of Steel Shri D.R.S. Chaudhary and other senior officials of the Ministry, CMDs of Steel Public Sector Undertakings also attended the meeting.