Question : Impact of Demonetisation on Steel Sector

(a) whether demonetisation has adversely affected construction and real estate business resulting in loss of revenue for Iron and Steel industry, if so, the details thereof and the reaction of the Government thereto;

(b) the steps taken by the Government to mitigate the problems faced by the steel industry post demonetisation;

(c) whether there is a general decline in the production and domestic supply of Iron and Steel in the country due to raw material shortage; and

(d) if so, the details thereof and the corrective steps taken by the Government in this regard?

THE MINISTER OF STATE FOR STEEL (SHRI VISHNU DEO SAI)

(a) No, Madam.

(b) Does not arise, in view of (a) above.

(c) Data on production of crude steel and production for sale of total finished steel (Non-alloy + alloy/stainless) in the country during April-Jan., 2016-17 (prov.) is shown below and does not indicate any decline compared to same period last year.
Period Crude steel production
(MT) Production for sale of
total finished steel (non-alloy + alloy/stainless) (MT)
April-Jan. 2016-17* 81.00 83.01
April-Jan. 2015-16 74.02 74.84
% change* 9.4 10.9
Source: JPC; * provisional; MT=million tonnes

(d) Does not arise, in view of (c) above.

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