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Domestic steel gets infrastructure boost

Policy would focus on increasing annual steel production to 300 million tonnes by 2025

Cabinet clears National Steel Policy; move to boost domestic demand

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The government had earlier said it would not go in for distress sale of the three SAIL subsidiaries and rather look for a management that will turn around the units

Megha Manchanda New Delhi

Last Updated : May 04 2017 | 1:52 AM IST

Domestic steel will now get preference in infrastructure under the National Steel Policy approved by the Union Cabinet on Wednesday. The move would boost the sales of debt-laden companies.

The policy would focus on increasing the country's annual steel production to 300 million tonnes by 2025, entailing an investment of Rs 10 lakh crore by 2030-31.

"India should have a globally competitive steel industry and we want that the per capita steel consumption in the country should be 160 kg by 2030," Finance Minister Arun Jaitley said while briefing the media after the Cabinet meeting.

The existing per capita steel consumption of the

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