The Ministry of Steel's Production Linked Incentive (PLI) Scheme for Specialty Steel, approved in July 2021 with a budget of ₹6,322 crore, aims to boost specialty steel production through financial incentives. The scheme offers incentives for five years, from Financial Year 2024-25 to Financial Year 2030-31, to companies that meet specified investment and production targets. The government acts as a facilitator by creating a conducive policy environment for the development of the steel sector. The decisions such as investment, capacity addition, employment, product portfolio etc. are based on techno-commercial analysis of companies. The answer was given by the Minister of State in the Ministry of Steel, Shri Bhupathiraju Srinivasa Varma. This information was provided in response to Lok Sabha Unstarred Question No. 404, for answer on 02.12.2025, by Shri K E Prakash, regarding employment generation in the steel sector under the PLI scheme.
Key Entities Referenced
Production Linked Incentive (PLI) Scheme for Specialty Steel: Scheme approved to boost specialty steel production through financial incentives from FY 2024-25 to FY 2030-31.
Ministry of Steel: The ministry responsible for answering the parliamentary question regarding the PLI Scheme for Specialty Steel.
GOVERNMENT OF INDIA
MINISTRY OF STEEL
LOK SABHA
UNSTARRED QUESTION NO. 404
FOR ANSWER ON 02.12.2025
EMPLOYMENT GENERATION IN STEEL SECTOR UNDER PLI SCHEME
404. SHRI K E PRAKASH:
Will the Minister of STEEL be pleased to state:
(a) the specific mechanisms put in place under the Production Linked Incentive (PLI)
Scheme for the Steel sector to independently verify the projected employment
generation of over 30,000 direct jobs; and
(b) the measures being taken by the Government to ensure the sustainability of these
jobs in the long term?
ANSWER
THE MINISTER OF STATE IN THE (SHRI BHUPATHIRAJU SRINIVASA VARMA)
MINISTRY OF STEEL
(a)&(b): Production Linked Incentive (PLI) Scheme for Specialty Steel was approved
by the Union Cabinet in July, 2021 with a budget of ₹6,322 crore which aims to boost
specialty steel production through financial incentives. The scheme offers incentives
for five years, from Financial Year 2024-25 to Financial Year 2030-31, to companies
that meet specified investment and production targets. Steel is a de-regulated sector
and the Government acts as a facilitator by creating a conducive policy environment
for the development of the steel sector. Decisions such as investment, capacity
addition, employment, product portfolio etc. are based on techno-commercial analysis
of companies.
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