India overtakes US as 3rd largest steel producer: Tomar

News:

• The Union Steel & Mines Minister Narendra Singh said Indian steel industry is growing at a reasonably good pace and last year the growth in crude steel production in India was more than 8%.
• He added India is working towards achieving 300 million tonnes (MT) target in the next 10 years.
• India has fixed a target of 300 MT production capacity by 2025 and the steel ministry is working out action plan and strategies to achieve this target.
• Secretary Mines Balvender Kumar informed the members that the Mines and Minerals Act, 2015 would address the emergent problems in the mining industry.
• On provisions to check illegal mining, minister said, all offences under the Act will now be subject to a maximum punishment of 5 years imprisonment or fine of Rs 5 lakh per hectare.

Source: ET