The Minister of State for Steel Shri Vishnu Deo Sai has informed that as per National Steel Policy, 2017 Indian steel industry contributes approximately 2 percent to the country’s Gross Domestic Product (GDP).The share of Gross Non-Performing Assets (GNPA) for Iron and Steel in Basic Metal and Metal Product category as on 30.09.2017 is 23.70 percent for public sector banks.
The benefit of RBI schemes namely 5/25 scheme and Scheme for Sustainable Structuring of Stressed Assets (S4A) for restructuring of debts of stressed companies can be availed by Steel Companies.