Steel PSUs to be on par with private counterparts in 2018

"So, PSUs will be functioning if not on par but near par with the private sector in the calendar year of 2018," Steel Secretary Aruna Sharma said.

Ecstatic about the national steel and a public

procurement policies have taken off very well, the secretary said the sector has got a fillip and there is an optimism in the market.

The Cabinet, in May, approved National Steel Policy 2017 that envisages Rs 10 lakh crore investment to take capacity to 300 million tonnes by 2030-31 to give a boost to the sector.

The government in the same month also approved a public procurement policy to give preference to domestically manufactured goods with a view to promote Make in India initiative.

"We are happy with 2017 because the two things which the ministry was working on i.e. the steel policy and procurement preference policy, have taken off very very well and there are very positive signs about it. The sector has got the boost.

The figure itself speaks up themselves that the sector has revived," Sharma explained.

Stating that the companies operating in the steel sector were considering expanding their capacities, she said in the year ahead, the government expected some of the firms to be grounded.

"All the players in the sector are thinking of expansion in there business and expansion in their capacities, which is also a positive sign. And in the coming year, we expect some of them to be grounded so that in the coming two-three years that capacity is added to our sector," the secretary said.

Sharma also expressed hope that the steel production capacity will be much higher in the next fiscal from the present 126 million tonnes (MT).

"So, let's see how we are moving. But, we seem to be progressing quite well till the December figures," the secretary said.