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Dr. Mungekar new president of Indian Economic Association
- The Indian Economic Association is the highest body of the country's economists.
- Economists elected unanimously for the position in the past include Amartya Sen
SAIL draws up Rs.70,000-cr capex programme
- Steel Authority of India Limited (SAIL) has decided to not only focus on expansion and capacity addition in its Rs.70,000-crore programme but also shift its focus to increase the share of value-added products from 39 per cent to around 55 per cent in the next two years, to meet the emerging challenges.
- the new cold rolling complex coming up at Bokaro Steel Plant would boost the share of value-added products which would target the auto and white goods sectors.
- SAIL was developing product suitable for hot stamping technology which is being introduced by auto companies to get low-carbon high-strength material.
- The company is manufacturing value-added steel at its five integrated steel plants in addition to the three special steel plants — Alloy Steel Plant (ASP), Salem Steel Plant (SSP) and VISL.
- The ASP at Durgapur is specially designed for casting special steels such as austenitic/ferritic stainless steel and a variety of non-stainless steels, including “bullet proof” steel.
- Salem plant produced a wide range of cold rolled and hot rolled stainless steel.
- VISL is able to produce over 700 grades of quality alloy and special steels to the defence and automobile segments besides heavy engineering and railways.
- Indian steel market was experiencing change in the pattern of consumption of steel. Sectors such as auto, oil and gas, power are growing fast
