Under the proposed National Steel Policy, significant growth in the indigenous production of steel is envisaged. The National Steel Policy 2005 provides for various measures to promote the growth of the steel industry including the following:-
(i) Prepare and implement an action plan for achieving the strategic goal of 110 MT of steel production by 2019-20, with separate plans for the growth of flat and long products.
(ii) Prepare and implement road maps for technological and productivity improvements benchmarking them to global standards.
(iii) Monitor the implementation of the National Steel Policy.
(iv) Conduct reviews to remove infrastructural, procedural and institutional bottlenecks and to achieve policy coordination among central Ministries and State Governments.
In a written reply in the Rajya Sabha on August 28 Union Minister of Steel Beni Prasad Verma said, Steel Authority of India Limited (SAIL) is a profit making Public Sector Undertaking and profit after tax during FY 2011-12 and 2012-13 was Rs.3543 crore and Rs.2170 crore respectively.
SAIL has already launched modernization & expansion plan at its five integrated steel plants at Bhilai, Bokaro, Rourkela, Durgapur & Burnpur and special steel plant at Salem to enhance its crude steel production capacity from 12.8 Mtpa to 21.4 Mtpa in the current phase.
The indicative investment for current Phase of Modernization & Expansion is Rs.61,870 crore. Besides, a provision of Rs.10,264 crore has been made towards investment in existing mines under Raw Materials Division (RMD) & development of Rowghat Mine, the Minister added.