Year end review-2015: Ministry of Steel

Major Initiatives and Achievements of Steel Ministry

Ques: Which one of the following is correct for the production of crude steel in the world to India –

(a) 3rd Position

(b) 2nd Position

(c) 1st position

(d) 4th Position

Ans: (a)

Related facts:

  • December 16, 2015 Year end review-2015 has been released by Ministry of Steel.
  • Expansion of Rourkela Steel Plant of SAIL on April 1, 2015. The expansion of Rourkela Steel plant has resulted in addition of about 2.5 million tonnes of crude steel capacity.
  • Steel Research and Technology Mission of India (SRTMI) being established to spearhead R&D activities of national importance in collaboration with steel industry with an initial corpus of Rs.200 crore. Memorandum of Agreement (MoA) has been signed on 06th April, 2015.
  • India is currently the 3rd largest producer of crude steel in the world.
  • India continues to maintain its lead position as the world’s largest producer of Direct Reduced Iron (DRI) or Sponge Iron.
  • The steel sector contributes nearly 2% of the country’s GDP and employs over 6 lakh people.
  • The per capita consumption of total finished steel in the country has risen from 54.9 kg in 2010-11 to 60.8 kg in 2014-15.
  • Capacity for crude steel production expanded from 80.36 million tonnes per annum (mtpa) in 2010-11 to 109.85 mtpa in 2014-15.
  • Crude steel production grew at 6.2% annually (CAGR) from 70.67 mtpa in 2010-11 to 88.98 mtpa in 2014-15.
  • Production for sale of total finished steel (alloy + non-alloy) stood at 92.16 million tonnes during 2014-15, as against 68.62 million tonnes in 2010-11, an average annual (CAGR) growth of 8.7%.
  • Real consumption of total finished steel (alloy + non-alloy) has grown at a CAGR of 5.3% during the last five years.
  • Domestic real consumption of total finished steel (alloy + non-alloy) was at 76.99 million tonnes in 2014-15 and increased by 3.9% on a year-on-year basis (i.e. over 2013-14).
  • Export of total finished steel (alloy + non-alloy) during 2014-15 stood at 5.59 million tonnes while import of total finished steel (alloy + non-alloy) during the same year stood at 9.32 million tonnes.

Reference:

http://pib.nic.in/newsite/PrintRelease.aspx?relid=133420