<p>Indian steelmakers on Wednesday said the Rs 20 lakh crore stimulus package announced by Prime Minister Narendra Modi would give a quantum jump to economic activities in the country and boost the ambitious Make in India programme.</p>.<p>The Prime Minister on Tuesday announced a massive new financial incentive on top of the previously announced packages for a combined stimulus of Rs 20 lakh crore.</p>.<p>Welcoming the announcement, Rashtriya Ispat Nigam Ltd chairman and managing director P K Rath said the impetus would give a quantum jump to economic activities in the country.</p>.<p>The growth of downstream sectors of Indian steel Industry, MSMEs, construction, infrastructure, auto etc will help India become self-reliant, he said.</p>.<p>"The package is predicated to make the Indian economy self-reliant by leveraging our inherent strengths of demographics, technological skills and domestic demand by building infrastructure and robust supply chains that would give a boost the Make in India programme," JSW Group Chairman Sajjan Jindal said.</p>.<p>Jindal Steel and Power Ltd (JSPL) Chairman Naveen Jindal said the relief announced under the 'Atmanirbhar Bharat Abhiyan' will strengthen infrastructure, tech-driven system, demography and demand as highlighted by the Prime Minister.</p>.<p>The much-needed stimulus by the government will reassure businesses and the common man, he said.</p>.<p>SAIL Chairman Anil Kumar Chaudhary said the package which equals 10 per cent of India's GDP is in line with the industry expectations.</p>.<p>This will help restart various industrial activities and bring back the momentum of all economic activities, he said.</p>.<p>"Infrastructure being one of five pillars emphasized by PM in his strategy of self-reliant India will augur well for domestic steel demand. Once the economy is kick-started, there will be a marked pick-up in infrastructure and construction activities bringing the steel demand back in the domestic market," he said.</p>.<p>Pankaj Malhan, CEO, Vedanta ElectroSteel Steels Limited, said, "Prime Minister Narendra Modi's Aatmanirbhar Bharat movement, based on economy, infrastructure, technology-driven system, vibrant demography and demand is a welcome initiative that will propel India's growth and shape up 'India of Future' while ensuring that both lives and livelihood are well-balanced."</p>.<p>The announcements made by the Finance Minister Nirmala Sitharaman will go a long way in driving the much-needed demand and liquidity in the system, he said, adding it will protect earnings at both individual and corporate level.</p>
<p>Indian steelmakers on Wednesday said the Rs 20 lakh crore stimulus package announced by Prime Minister Narendra Modi would give a quantum jump to economic activities in the country and boost the ambitious Make in India programme.</p>.<p>The Prime Minister on Tuesday announced a massive new financial incentive on top of the previously announced packages for a combined stimulus of Rs 20 lakh crore.</p>.<p>Welcoming the announcement, Rashtriya Ispat Nigam Ltd chairman and managing director P K Rath said the impetus would give a quantum jump to economic activities in the country.</p>.<p>The growth of downstream sectors of Indian steel Industry, MSMEs, construction, infrastructure, auto etc will help India become self-reliant, he said.</p>.<p>"The package is predicated to make the Indian economy self-reliant by leveraging our inherent strengths of demographics, technological skills and domestic demand by building infrastructure and robust supply chains that would give a boost the Make in India programme," JSW Group Chairman Sajjan Jindal said.</p>.<p>Jindal Steel and Power Ltd (JSPL) Chairman Naveen Jindal said the relief announced under the 'Atmanirbhar Bharat Abhiyan' will strengthen infrastructure, tech-driven system, demography and demand as highlighted by the Prime Minister.</p>.<p>The much-needed stimulus by the government will reassure businesses and the common man, he said.</p>.<p>SAIL Chairman Anil Kumar Chaudhary said the package which equals 10 per cent of India's GDP is in line with the industry expectations.</p>.<p>This will help restart various industrial activities and bring back the momentum of all economic activities, he said.</p>.<p>"Infrastructure being one of five pillars emphasized by PM in his strategy of self-reliant India will augur well for domestic steel demand. Once the economy is kick-started, there will be a marked pick-up in infrastructure and construction activities bringing the steel demand back in the domestic market," he said.</p>.<p>Pankaj Malhan, CEO, Vedanta ElectroSteel Steels Limited, said, "Prime Minister Narendra Modi's Aatmanirbhar Bharat movement, based on economy, infrastructure, technology-driven system, vibrant demography and demand is a welcome initiative that will propel India's growth and shape up 'India of Future' while ensuring that both lives and livelihood are well-balanced."</p>.<p>The announcements made by the Finance Minister Nirmala Sitharaman will go a long way in driving the much-needed demand and liquidity in the system, he said, adding it will protect earnings at both individual and corporate level.</p>