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Which of the following categories of specialty steel have been chosen in the PLI Scheme?
1. Coated/Plated Steel Products
2. High Strength/Wear resistant Steel
3. Specialty Rails
Select the correct answer using the code given below:
  • a)
    1 only
  • b)
    1 and 2 only
  • c)
    2 and 3 only
  • d)
    1, 2 and 3
Correct answer is option 'D'. Can you explain this answer?
Most Upvoted Answer
Which of the following categories of specialty steel have been chosen ...
Union Cabinet approved Production-Linked Incentive Scheme for Specialty Steel which was notified on 29th July 2021. Guidelines for an effective implementation of PLI Scheme have been notified on 20th Oct 2021.
  • Specialty steel is value added steel wherein normal finished steel is worked upon by way of coating, plating, heat treatment, etc to convert it into high value added steel which can be used in various strategic applications like Defence, Space, Power, apart from automobile sector, specialized capital goods etc.
  • The five categories of specialty steel which have been chosen in the PLI Scheme are:
    • Coated/Plated Steel Products
    • High Strength/Wear resistant Steel
    • Specialty Rails
    • Alloy Steel Products and Steel wires
    • Electrical Steel
Benefits:
  • The benefit of this scheme will accrue to both big players i.e. integrated steel plants and to the smaller players (secondary steel players)
  • It is expected that the speciality steel production will become 42 million tonnes by the end of 2026-27. This will ensure that approximately 2.5 lakh crores worth of speciality steel will be produced and consumed in the country which would otherwise have been imported.
  • Similarly, the export of specialty steel will become around 5.5 million tonnes as against the current 1.7 million tonnes of specialty steel getting FOREX of Rs 33,000 crore.
  • Hence, option (d) is the correct answer.
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Which of the following categories of specialty steel have been chosen in the PLI Scheme?1. Coated/Plated Steel Products2. High Strength/Wear resistant Steel3. Specialty RailsSelect the correct answer using the code given below:a)1 onlyb)1 and 2 onlyc)2 and 3 onlyd)1, 2 and 3Correct answer is option 'D'. Can you explain this answer?
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