Latest News
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Your email address will not be published.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

EXPORT OF SEA FOOD

The current status of the export of seafood from the country is given below:-   ...

INDIA’S REAL GDP PROJECTED TO GROW BETWEEN 6.5–7 PER CENT IN 2024-25

India’s real GDP is projected to grow between 6.5–7 per cent in 2024-25. The Indian ...

INDIAN ECONOMY NEEDS TO GENERATE NEARLY 78.5 LAKH JOBS ANNUALLY IN THE NON-FARM SECTOR UNTIL 2030 TO CATER TO THE RISING WORKFORCE

With the global labour market amidst a ‘disruption,’ and constantly being reshaped by the fourth ...

Air Pollution caused by Stubble Burning

The Ministry of Environment, Forests and Climate Change has identified Crop Residue Management as one ...

Combined Index of Eight Core Industries (ICI) increases by 5.2 per cent (provisional) in March, 2024 as compared to March, 2023

The combined Index of Eight Core Industries (ICI) increased by 5.2 per cent (provisional) in March, 2024 ...

Green growth and Green jobs to drive India’s journey towards the target of net zero carbon emission by 2070

Union Minister for Steel and Civil Aviation, Sh. Jyotiraditya M. Scindia, today (4 March, 2024) ...

Coal Sector Achieves Impressive 10.6 % Growth in December Among Eight Core Industries

The coal sector has showcased highest growth of 10.6 % (provisional) among the eight core ...

22 Nuclear Power Reactors operational in the country

India’s Nuclear Power capacity witnessed a quantum jump after 2014, when Narendra Modi took over ...

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 ...

WP2Social Auto Publish Powered By : XYZScripts.com