Steel News

We strive to let you one step ahead of the market.

India's capex to rise by 33% for FY24, boosting steel demand

6 Feb 2023 17:08 reported by Ana Lee

A A A
India's finance ministry has increased capital expenditure on infrastructure development by 33% year on year to 10 trillion rupees in its budget for the fiscal year 2024.

The spending will be about 3.3% of India's total GDP, the finance ministry said. It was also announced that a capital expenditure of 24 trillion rupees will be spent on the Indian railway building, which will be the highest allocation since fiscal 2014.

The Indian Steel Association (ISA) said the increase in the budget would drive rapid infrastructure development and stimulate domestic steel demand, thereby spurring private-sector investment and job creation.

Back to Steel News

Related News

India’s NALCO posts surged net profit in Q3

  • Finance and economy
  • 22 Feb 2024 15:52

Rathi Steel & Power’s net sales drop in Q3 q-o-q, y-o-y

  • Finance and economy
  • 20 Feb 2024 15:17

Aperam posts net profit of EUR 70 million in Q4 2023

  • Finance and economy
  • 19 Feb 2024 15:39

Russian Severstal’s capital expenditures to reach 119 billion rubles in 2024

  • Finance and economy
  • 17 Feb 2024 12:26

Russian MMK’s net profits grow in 2023 y-o-y

  • Finance and economy
  • 17 Feb 2024 12:15

Metal Price Index

Learn more

LME Official Bid Price

  • Zinc
  • 2,348.00
  • 2,391.00
  • Aluminum
  • 2,156.50
  • 2,196.50
  • Copper
  • 8,442.00
  • 8,537.00
  • Nickel
  • 17,175.00
  • 17,400.00

Learn more

Coil Exchange Center

  • 2B Coil-Mar
  • 2,460
  • 2,320
  • NO1 Coil-Mar
  • 2,430
  • 2,290
  • 2B Coil-Mar
  • 2,460
  • 2,320
  • NO1 Coil-Mar
  • 2,430
  • 2,290

Learn more