Interim Budget 2024: Steel industry poised for growth

Visakhapatnam: Reacting to the Union Budget 2024-2025, Atul Bhatt, CMD-RINL said that vision of Prime Minister Narendra Modi to make India ‘Viksit Bharat by 2047’ by focussing on infrastructure development will indeed give a much needed fillip to the Indian Steel Industry.

“Capex outlay of Rs 11.11 lakh crores, 2 crore houses under PM Awas Yojana, Railway corridor programme under PM Gati Shakti and comprehensive development of new airports under UDAN Scheme, will enhance the capacity utilisation of the domestic steel industry,” Bhatt, opined.

He expressed confidence that with the start of third Blast Furnace in December, 2023, RINL is well positioned to cater to the increased steel demand.