Question

When was the Steel Authority of India established?
A. 1909
B. 1937
C. 1953
D. 1973

Answer 1

Hint: The Steel Authority of India (SAIL) is one of the largest steel-making companies in India which was set up in January 1973. It is also considered as one of the Maharatna’s of the country’s Central Public Sector Enterprises.

Complete answer:
SAIL is a public sector undertaking which is owned and operated by the Government of India with an annual turnover of Rs. 61,024.88 crore during the fiscal year of 2019-20. The company produces iron and steel at five integrated plants and three special steel plants and they are located in the eastern and central regions of India which is situated close to domestic sources of raw materials.SAIL has re-emerged as the largest domestic crude steel producing company during the fiscal year of 2019-20. The company also produced a good figure of saleable steel. The government’s supportive policies have played a pivotal role in maintaining the profitability of the company. It produces steel and steel products.
SAIL is continually striving to improve its performance by increasing sales, share of value added and special steels and new products and aggressive cost optimization on a continual basis. The government’s focus on ‘Atma Nirbhar Bharat’ and ‘Vocal for Local’ will help in boosting domestic steel consumption.
So, the correct answer is option D.

Note: Iron and steel industries are mostly located in close proximity to areas where raw materials are found or are available. This industry requires an efficient transport system as the finished goods are also heavy and transportation is difficult.