Current Affairs - Economy - Discussion

The Union Cabinet approved a significant ₹11,440 crore revival package for Rashtriya Ispat Nigam Limited (RINL), also known as Vizag Steel, to address its financial challenges. The package includes ₹10,300 crore as equity capital and conversion of ₹1,140 crore in working capital loans into preference shares. The revival plan aims to stabilize RINL's operations, improve steel production, and secure its long-term sustainability by modernizing the plant and ensuring a steady supply of raw materials.