Union Minister for Steel Mr. Dharmendra Pradhan informed the Lok Sabha that the National Steel Policy enshrines the long term vision of the government to give impetus to the steel sector. The policy envisages to create a technologically advanced and globally competitive steel industry that promotes self-sufficiency in steel production as well as economic growth. Steel being a de-regulated sector, government acts a facilitator, by creating enabling environment for development of steel sector.
Coal Production :
The minister also informed that the demand of raw material i.e., iron ore for Indian Steel Industry is met from the domestic supply in the country while the demand of coking coal is met mainly through imports.
The focus of the Government is on increasing domestic production of coal and to achieve these targets through allocation of more coal blocks, pursuing with State Governments for assistance in land acquisition and coordinated efforts with Railways. In order to enhance domestic production, 25% of coal production has been allowed for sale of coal for newly allocated captive coal blocks. Commercial mining, with a provision for 100% foreign investment, has also been allowed by the Government.