Home » Parliament » Performance of Government-Owned Steel Companies

Performance of Government-Owned Steel Companies

There are two steel manufacturing Public Sector Undertakings (PSUs) under the administrative control of Ministry of Steel, namely, Steel Authority of India Limited (SAIL) and Rashtriya Ispat Nigam Limited (RINL).  The revenue generated by SAIL and RINL during the last five years is given at Annexure-I.

The steel industry witnessed severe downturn globally with demand slowdown, overcapacity, cheaper imports, variations in coking coal prices coupled with higher interest charges on borrowings and higher depreciations which impacted the realisations of the companies during 2015-16 to 2017-18.  The companies subsequently reduced their losses and earned some profit in 2018-19.   During 2019-20, SAIL remained in profit but RINL incurred losses partly due to slowdown in demand for long steel products of the company.

Steel is a deregulated sector and the role of the Government is that of a facilitator.  The Government has taken various measures to facilitate growth of the domestic steel industry viz. notified Mines and Minerals (Development and Regulation) Amendment Act, 2015, thereby streamlining grant of Mining leases, changes in peak rate of custom duty on steel and levy of safeguard duties, notifying Anti-dumping duties on steel products and issuance of Steel Quality Control Orders to stop non-standardized steel import and manufacturing, etc.

This Information was given by the Union Minister for Steel Shri Dharmendra Pradhan in a written reply in the Rajya Sabha today.

Annexure-I

Revenue Generated by SAIL and RINL

(Rs. In crore)

 

Name of the CPSE

2015-16 2016-17 2017-18 2018-19 2019-20
Revenue from Operations PBT PAT Revenue from Operations PBT PAT Revenue from Operations PBT PAT Revenue from Operations PBT PAT Revenue from Operations PBT PAT
SAIL 43875 (-)7008 (-)4021 49767 (-)4851 (-)2833 58962 (-)759 (-) 482 66967 3338 2179 61661 3171 2022

 

RINL 10132.90 (-)1417.23 (-)1420.64 12418.74 (-)1690.49 (-)1263.16 14607.18 (-)1911.45 (-)1369.01 20492.03 (-) 306.89 96.71 15920.46 (-)4287.51 (-) 3910.17

 

 

About IIPnews

Leave a Reply

Your email address will not be published. Required fields are marked *

*

x

Check Also

341.91 lakh bales of cotton production reported in 2022-23

The Union Minister of State for Textiles, Smt. DarshanaJardosh in a written reply to a ...

AMRIT BHARAT STATIONS

The Amrit Bharat Station Scheme has recently been launched for development of Railway stations on ...

Spices Board establishes eight crop specific Spices Parks across the country

Spices Board has established eight crop specific Spices Parks across the country, the Minister of ...

Centre takes proactive steps to promote the GI tagged products in the global market

The Government has taken several proactive steps to promote the GI tagged products in the ...

Centre formulates ‘Action Plan for Champion Sectors in Services’ to give focused attention to 12 identified Champion Services Sectors

Centre has formulated ‘Action Plan for Champion Sectors in Services’ to give focused attention to ...

Rs. 477.25 crore approved to 133 incubators under the Startup India Seed Fund Scheme (SISFS)

The Startup India Seed Fund Scheme (SISFS), a flagship scheme under Startup India initiative has ...

Union Budget to give a boost to exports and manufacturing

Union Budget 2023-24 has a slew of measures to give boost to exports and help ...

37.4% INCREASE IN CAPITAL EXPENDITURE TO 10 LAKH CRORE IN BE 2023-24

Investments in infrastructure and Productive capacity have a large multiplier impact on growth and employment” said ...

ECONOMIC SURVEY 2022-23 PROJECTS A BASELINE GDP GROWTH OF 6.5 PER CENT IN REAL TERMS IN FY24

India to witness GDP growth of 6.0 per cent to 6.8 per cent in 2023-24, ...

Data on Employment in MSMEs

As per Udyam registration portal, the number of persons employed in the MSMEs which are ...

WP2Social Auto Publish Powered By : XYZScripts.com