Specialty Steel PLI to Move India Up in the Steel Value Chain

What’s Buzzing :

The Indian government has recently approved Specialty Steel PLI (Production linked incentive) scheme for overall growth in infra space. The length of the scheme might be five years, from 2023-24 to 2027-28. With a budgetary outlay of ₹ 63,220 million, the scheme will bring in investment of nearly ₹4,00,000 million and result in capacity addition of 25 Million tonnes (MT) for speciality steel. Hopefully, this scheme will anchor India in moving up the steel value chain at par with advanced steelmaking countries.

Context :

In FY21, India produced 102 MT of steel. However, of this only 18 MT was value-added steel or specialty steel. Moreover, of the 6.7 MT of steel imports in FY’21, nearly 4 MT import was of speciality steel alone. As value-added steel grades are presently largely imported in India, a speciality steel PLI scheme has been introduced with an objective to enhance the production of high-grade speciality steel domestically.

Perspective view:

The Specialty steel PLI scheme will incentivize domestic steel manufacturers to invest in speciality steel. The scheme will include coated/plated steel products, high strength/wear-resistant steel, speciality rails, alloy steel products, steel wires and electrical steel. The focus of the scheme is towards increasing exports and minimize the dependence of imports for high-end steel. After completion of the scheme, India will start manufacturing products like API grade pipes, Head Hardened Rails, electrical steel (needed in transformers and electrical appliances) which are currently manufactured in very small amounts or not produced at all. It is anticipated that the speciality steel production in India will touch the 42 MT mark by the end of 2026-27. This implies that approximately ₹ 2.5 trillion worth of speciality steel will be produced and consumed in the country which would otherwise have been imported. Similarly, the export of speciality steel is also likely to become around 5.5 million tonnes as against 1.7 million tonnes at present. Overall the speciality steel PLI scheme is likely to catapult India into the league of advanced steel producers like Korea and Japan. An added advantage would be the lesser volatility in earnings and probably better valuation multiples.

Jindal Stainless Ltd.
Sector: Steel – Medium & Small

Following the news, Jindal Steel stock saw a phenomenal jump of over 18% intraday! That is August 24, 2021. Just 5 hours prior to the time of writing this post.

Specialty Steel PLI
Open 128.85
Previous Close 128.85
Intraday High 153.95
Intraday Low 128.85
UC Limit 154.60
LC Limit 103.10
52 Week High 168.40

The buzz among excited investors had been like:

  • Rs 200 is the minimum target expected for the month of August.
  • No matter how hard you try, you just cant stop this stock from growing. Good level to enter now, dont miss this opportunity
  • Buy, buy at CMP for an immediate short term target of Rs 155.
  • The share price will shoot like a rocket and hit the roof.

This sums up the excellent growth in metal and infra space.

Also Read: Tata steel share price takes an exciting take-off attracting investors


Trinamool Congress has Become a Family Party: Amit Shah

Addressing the press conference on the last day of West Bengal visit, the Union Home Minister slam the Trimanool Congress government and said that the Bharatiya Janata Party strongly condemned the manner in which Trinamool Congress workers attacked our National President Shri Jagat Prakash Nadda ji during his visit to West Bengal a few days ago. And personally I also strongly condemn it. Bharatiya Janata Party believes in democracy, and we also endorse the fact that everyone should have the right to raise their voice democracy. Those who are in government have the responsibility to ensure that all political parties are able to convey their point of view to the public without any fear. I believe that the attack on the National President of India’s largest political party is not just an attack on the President of the Bharatiya Janata Party, but it is an attack on the democratic system. And I want to tell the Trinamool Congress that you should not remain under any misconception that such an attack will stop the momentum of the Bharatiya Janata Party.

Trinamool Congress
Enjoy the sweet smell of success

The Union Home Minister said that corruption is also at its peak in the state. Prime Minister, Shri Narendra Modi ji, sent 8 months free ration for the poor of West Bengal in the Corona period, but the entire sacks of it were disappeared, the poor remained hungry. Whose responsibility is it? Why does the High Court have to intervene in this case and order for a special audit of the CAG? Why is the Trinamool Congress government afraid of the CAG audit which has now gone to the Supreme Court against it? If it is not stolen, then they should say that they welcome the order of CAG audit. But, running away from it because corruption has happened and their loved ones have done corruption, Trinamool Congress neither has anything to say nor dare to apprehend its own.

Also Read: Emergence of Bharati Ghosh in Bengal to Help BJP

When India became independent, at that time one-third of the country’s GDP came from West Bengal and today it has gone down drastically. This graph continued to fall during the nearly three decades of Communist rule and one decade of Trinamool Congress rule. Whose responsibility is it?

At the time of independence, West Bengal’s contribution to industrial production was 30% which has reduced to 3.5% today. I want to ask Mamta Didi and the Communist Party who is responsible for this? In 1960, West Bengal’s determination ratio in employment was previously 27%, which has come down to 4%. Who is responsible for this decline?

In 1960, the per capita income in West Bengal was 105% higher than the per capita income of Maharashtra i.e. nearly twice the per capita income of Maharashtra but today the per capita income in West Bengal is not even half of Maharashtra. In the list of per capita income of 32 states of the country in 2018-19, West Bengal was ranked 22nd .Who is responsible for this?

Continuing the attack on the Mamta government, the Union Home Minister said that Prime Minister Shri Narendra Modi has given direct financial assistance of ₹ 95,000 crore to about 10 crore farmers in the country in the last one and a half years, but Mamta Didi has not listed the farmers of the state. I am repeatedly raising this topic because at least before the elections Mamta didi, give the money to poor farmers. About 23 lakh farmers from West Bengal have applied online for Kisan Samman Nidhi, all you have to do is certify it. You are supporting the Kisan movement but farmers in your own state are not getting the benefit of Kisan Samman Nidhi.

Shah said that the Trinamool Congress has become a family party. Instead of worrying about the 10 crore people of West Bengal, Mamta Didi dreams to make her nephew the chief minister of the state.

The Union Home Minister said many leaders from Trinamool Congress, Congress and Communist Party have taken membership of Bharatiya Janata Party. Shri. Suvendu Adhikari has also joined the Bharatiya Janata Party. I heartily welcome Shri Adhikari to the BJP. We believe that all good activists of political life who want to join the Bharatiya Janata Party to raise their voice against the injustice, all of them should come to BJP.

Dubey ji Bounces Back

Dubey ji Bounces Back

by Vivek Atray (Goodreads Author)


Meek and morose is what Raghav Dubey has been all his life but when Sarla Koppikar wallops him on his head and almost kills him, Dubey ji decides to undergo a complete makeover. He shaves off his moustache, sheds his reticence in female company and even learns to play the guitar! His career graph now rockets skywards with his newfound zest and energy enabling him to work wonders at Mumbai’s Bonny Bank. The beauteous Avni Singh bowls him over and he is left utterly lovestruck. Even the very charming Paulomi Bose fails to distract him. Dubey ji’s bête noire is found dead and our hero is in deep trouble. Will he be able to bounce back again?

Vivek Atray, the Author

Vivek Atray is an Author, Advisor, Motivational Speaker, Formerly of the Indian Administrative Service, IAS and Mentor. He retired voluntarily from the IAS in 2017. He is an ex-under 19 cricketer. He speaks all over India on topics such as Emotional Intelligence, Leadership, People Skills and Behavioural Issues. He has over 20 Lakh (2 million) views on YouTube.

He is the founder of SUVICHAR Think Tank, Professor at Shoolini University, member of the CSR Advisory Board of ACTION AID and a member of the Governor’s Advisory Council for Chandigarh. He is also a founder of the Vibrant Networking Forum and the Chandigarh Literary Society, and Co-Convenor of INTACH Chandigarh.

Book Review by Naleen Chandra

“Dubey ji Bounces Back” may have taken a clue from the two most interesting eternal stories of transformation.

1. Vidyotma insulted her nincompoop husband, challenged him, terminated her marriage and left him in the lurch. Then the fool thought of doing something and eventually, with the grace of Goddess Kaali, Kalidas attained wisdom. With works like ‘Shakuntala’ and ‘Meghdoot’, the writer does not need any intro. The beauty of the writer’s expression, keeps the reader spellbound.

2. Ratnavali’s rejection had stunned and then spurred her husband. Ratnavali may have expected to guilt her husband into becoming a follower of Ram. Tulsidas eventually became a genuine Rambhakt and went on to write the epic Ramayan, which needs no intro.

In both instances, the wives were instrumental for the transformation of their husbands. Here the power of the impact a woman can have on man is to be seen, believed and experienced. Moreover, neither Tulsidas nor Kalidas followed any CBSE, IIT, or IAS. The fact of the matter is that the whole mankind religiously follows them and the so-called educational institutions include their works in their curriculum.

In “Dubey ji Bounces Back” the writer had an opportunity to highlight this particular aspect of human behaviour. I, as a reader, expected the writer with his vast admin experience to inspire today’s younger generation so that the Kalidas or Tulsidas lying suppressed within them eventually awakens.

Amazon Shopping

‘I will continue to send migrants until the last migrant reaches his home’: Sonu Sood

Bollywood actor Sonu Sood has been moved immensely by the miseries of millions of poor migrants especially the migrant workers who go to metro cities in search of livelihoods have now started to unfold in the world’s largest coronavirus lockdown. It is turning out to be one of the “greatest manmade tragedies” in India as per a few experts. Some business and psychological consequences for the rest of the country are also possible. Some of them believe that the government should have given people some time before imposing lockdown.

The lockdown measures included stopping train, bus and air services to stem the spread of the corona. The lockdown was extended three times but some relaxations have been permitted since late April.

Despite such gloomy plight of migrants, those experts didn’t come forward to help the migrant labourers. However, one man took note of their plight, rose to the occasion and instantly became a worldwide hit.

As the number of cases and death toll due to corona keep rising in the country, well known Bollywood actor, model and producer Sonu Sood, 46, has emerged as a ‘messiah’ for the migrants during the covid-19 lockdown. He did not hesitate in running several extra miles to support the needy people at times of corona induced crisis. After helping the labourers reach their homes, he is helping the migrants. He is constantly transporting people to his home through buses. Sood, along with his friend Neeti Goyal, is presently running a ‘send home’ campaign for the benefit of helpless migrant labourers. He has so far helped in the transportation of over 12,000 migrants to their destinations.

In early April, when corona phenomena had just started to show its effects in India, Sonu Sood had offered his hotel at Juhu, which has many hospitals nearby, as stay facility for health workers – doctors, nurses and other support staff so that they remain close to their workplaces. He then tied up with Brihanmumbai Municipal Corporation (BMC) to feed the needy affected by the corona outbreak and lockdown. Sood had been providing meals to over 45,000 people in Mumbai’s Jogeshwari, Andheri, Juhu and Bandra areas every day. He began a special drive for food and ration to the needy people, Shakti Annadanam, named after his father.

Sonu sood

Sonu Sood generally plays the roles of a bad guy or villain in films. He has also won many awards for it. But his moves aimed at helping people during corona has won millions of hearts. It has made him the real hero. He has now become one of the most trending topics on social media. People are giving him a bigger title than Hollywood superheroes. With his help, people who came home gave him the title of ‘Reel Villain and Real Hero’. At the same time, some people have become so emotional with this help in this difficult situation that they have given Sonu the status of God. Not only the common people but Union Minister Smriti Irani has also praised Sonu’s efforts.

For Sonu Sood , the lockdown has been an eye-opener for everyone. He has requested the governments to let the migrant workers go back to their homes without any unnecessary hardships.

Sonu’s activism in business can be gauged from the fact that whoever is contacting him on social media, Sonu Sood himself is giving the answer and assuring him of help. These days Sonu’s Twitter account is full of similar messages. Sonu himself has also stated that he is receiving messages for help in thousands.

Sood is flooded these days with messages like :

‘Sonu Sood Sir Please Help. Send Sir anywhere in East UP. From there, we will go to our village on foot.”

Sood responds by saying, ‘Why would you go on foot? Send me your number….’

Sonu sood
Full of energy, Sonu Sood on field in corona battle gear

For the past several days, Sood has been helping such workers in whatever way he could. To send the trapped labourers to their native places, team Sood has been working relentlessly and are arranging for them everything from buses to food and drink.

Sood is trying to help more and more number of people. He can be found on the field for 20-20 hours a day helping the migrant workers. Talking about his initiative in media, Sonu Sood has said, ‘It has been a very emotional journey for me because I was very sad to see these migrants roaming the streets away from their homes.’

Sonu Sood said, ‘I will continue to send migrants home until the last migrant meets his house and the loved ones. It is really close to my heart and I will give it my all. ‘

Sood maintains that this is not enough for him and he is inexhaustible. Whatever he has achieved at a relatively young age might be a fantasy of today’s younger generation. From being a celebrity, it is through his visionary and compelling initiatives that the Team Sonu Sood has now emerged as an aspiring “Role Model” for all such migrants .

Global Markets come under the grip of coronavirus

March 9, 2020. The Indian stock markets were in for a rude shock. The benchmark BSE Sensex recording its biggest-ever plunge- at over 2,200 points.

March 12, 2020. The Sensex tanked another 2,919 points. Equity indices witnessed worst ever intra-day fall.

The stock market has now subscribed to the bear territory – a condition when an index falls more than 20 per cent from recent highs – as the World Health Organization (WHO) announced coronavirus (Covid-19) a pandemic.

The 30-share benchmark BSE Sensex has lost more than 9,000 points since 20 January 2020. Rupee against Dollar is now @ 74.50! It is an all-time high.

But what led to this sudden slump, the erosion of investor wealth worth Rs 11,27,160.65 crore?

It all started with the fright carried on by the spread of Covid-19 (coronavirus disease). It already has made an atom-bomb like impact. Since the disease outbreak on the last day of the last decade, more than 4,400 deaths have been reported worldwide. More than 122,000 people in 120 nations have been infected till date.


The sudden slump in oil prices.

Global crude oil prices have crashed 30 per cent, with Brent crude prices falling to $32 a barrel.

The tremors are being felt in markets all over the world.

Also Read: Airline Flybe May become a Coronavirus Casualty

Under the shadow of the pandemic, people have stopped travelling. Airlines have discontinued their services. A few airlines went bankrupt while others are not able to make any reasonable profits. All such events have led to a major adverse impact on the global economy. The outbreak of Covid-19 has shaken the airline industry fundamentals, discouraging the growth prospects of the sector along with a sharp decline in the fossil-fuel burn.

The Organization of Petroleum Exporting Countries (OPEC) held an urgency meeting in February 2020 in order to recalibrate its production cuts for the rest of 2020. The plan was to cut production. Thus, it reduced global supplies by 3.6 per cent. When Russia refused to align with the deal, Saudi Arabia slashed oil prices enormously.


Markets have come under the clutch of coronavirus

Even a Morgan Stanley report does not give a pleasant picture as the coronavirus will likely amplify the problems.

Lower oil prices may translate to lower retail prices, but this positive benefit may not be necessarily realized, because the consumers will stay away from higher spendings amid an overall pessimism in the economy and the financial businesses.

India may be a significant gainer from the current oil prices slump. India imports 85 per cent of its oil requirement. Clearly, there would be a significant reduction in India’s import bill and easing of the current account deficit and inflation. This will also check the growing inflation and promote the next round of rate cuts by the Reserve Bank of India. Governments will continue to profit from the crude price fall, as they are not likely to pass on the influence of the soft crude prices exclusively to the consumer. The blessing gains for the government can be used to connect the fiscal deficit or spend on well-being projects and infrastructure.

Bihar Govt Didn’t Open Counselling Centres for 0.5 Million who Applied for 166 Gr D Vacancies

The various opposition parties, including Congress, have been targeting the BJP-JD(U)-led state government in Bihar when nearly 0.5 million applicants, which include graduates, post-graduates, B Tech, M Phil, MBA and MCA degree possessors, applied for 166 Gr D vacancies in the Bihar Vidhan Sabha where only a 10th pass qualification is needed. Around 1,500 to 1,600 candidates are appearing in the interview on a daily basis since September 2019 and the process shall continue till January 2020.
The controversy – people who are overqualified applying for Group-D posts in the state – get bigger. Such people are willing to serve as peons, gardeners, guards and cleaners in Bihar Vidhan Sabha.

applied for 166 Gr D vacancies
‘Failed can Pass’ says a hoarding at Hazratganj in Lucknow

The Bihar minister of rural development and parliamentary affairs, Shrawan Kumar of Janata Dal (United) dismissed it. He said, “What can a government do if people apply for jobs? People apply for jobs on their own accord. It’s not like the government tells them to apply for a particular job. The only thing the government can do is to ensure the meritorious applicants are selected,” Kumar told media persons.
Also Read: Emotional Intelligence for Working Professionals: Why is it Important
Kumar, however, recognised that development is a matter of serious concern. He swiftly blamed the “increasing competition” around the world for the same. “While it is worrisome, the entire world is going through a phase of tough competition,” he said.

What to do when 0.5 million people have applied for 166 Gr D vacancies:

The Bihar government did not show any pro-active intent to address the issue of unemployment. Its security department, namely, the police force is faced with severe manpower crunch. Bihar is among the most populous regions in the world, it requires enough number of police personnel to secure its various establishments, highways, and railways apart from VIP security. It is an irony that while the departments cry for more manpower, thousands of the state’s citizens have to continuously search for jobs.
When it saw 0.5 million people have applied for 166 Gr D vacancies, the Bihar government did not open any counselling centre to speak to its citizens. Such an initiative would have required nearly 15 counsellors working in a 24-hr shift to counsel about 2000 people a day. The government could have empanelled such candidates and prepared a database for any future job consideration. Unfortunately, the government didn’t make any use of this opportunity.

What should a government do

Many candidates who applied for these posts have said that unemployment was the major reason for filing these applications. They feel that a higher education degree doesn’t guarantee a basic salary of Rs 10,000 in the private sector. As such, the youth prefer government jobs over private jobs.

The government could have tried to see the reasons and solutions. By counselling the candidates and considering their strengths, weaknesses, aspirations and family backgrounds the government could have averted such a situation. It could have advised the candidates other means of livelihood.
Opposition leaders from the Rashtriya Janata Dal (RJD) and the Congress have blamed the BJP-JDU government for the current scenario of rising unemployment in the state.
They have said, “There is a job crisis and a state of unemployment in Bihar. Hence 0.5 million young men and women from neighbouring states have also applied for 166 Gr D vacancies. This includes people holding an MBA, BCA degrees and higher qualifications who are applying for Group D jobs.
Also Read: CBSE Fails Even Before Exams, Does not Trust its own Examinee
The situation is mainly due to the education policy the country has been following. In its New Education Policy, the government has clearly mentioned that until now the country was in a grip of a flawed education system. It has produced products which are mostly unemployable in the industry. The country has seen ages of indoctrination by the Indian middle-class fathers and mothers, who influence their kids that their prosperity, self-merit, and marriage prospects are directly linked to the college they have attended and the job they do.
This situation shows that unemployment in the state is at an alarming level. Youths with higher qualifications are ready to work as peons. Nothing can be more unfortunate than this. People from other states like Madhya Pradesh and Jharkhand are also coming here for jobs, which means that even these states are reeling under unemployment.