Question : PLI Scheme to boost Steel

(a) whether the Union Government has approved any funds under PLI scheme recently to boost production of speciality steel in India; and if so, the details thereof and the amount of money approved therefor;

(b) the details of the amount of additional investment expected by the Union Government as a result thereof;

(c) the details of the fresh job opportunities likely to be generated in steel sector; and

(d) the details of the categories of speciality steel that have been included in the PLI scheme; and the extent to which it will increase domestic production of steel and reduce its import?

THE MINISTER OF STEEL (SHRI RAM CHANDRA PRASAD SINGH)

(a)to(d): The Production Linked Incentive (PLI) Scheme for ‘Specialty Steel’ has been approved with an outlay of ?6322 Crore to be disbursed over FY 2024-25 to FY 2030-31. The Projected domestic capacity for production of ‘Specialty Steel’ under the scheme is 42.254 Million Ton (MT) as compared to 17.624 MT during the base year 2019-20 and consequent reduced import to be 0.936 MT as against 3.758 MT in the base year. The Scheme envisages investment of about ?39,625 Crore, reduction in import of about ?17,000 Crore as compared to the base year. The Scheme has an employment generation potential of about 5,25,000, of which approximately 68,000 will be direct, and the rest will be indirect employment. The product categories covered under the PLI Scheme are (i) Coated/Plated Steel Products, (ii) High Strength/Wear Resistant Steel, (iii) Specialty Rails, (iv) Alloy Steel Products and Steel Wires, and (v) Electrical Steel.

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