Which of the following steps can help in making domestic production of steel sustainable 1 Decreasin...........

Economic Affairs Industrial sectors

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Which of the following steps can help in making domestic production of steel sustainable?

1. Decreasing basic customs duties on certain primary iron and steel products.

2. Imposing anti-dumping duties on steel imported from other nations.

Select the correct answer using the code given below:

1 only

2 only

Both 1 and 2

Neither 1 nor 2

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Explanation:

Statement 1 is not correct. Domestic commercial banks both Public and Private contribute to the RIDF to the extent of their shortfall in stipulated priority sector lending to agriculture. The main objective of the Fund is to provide loans to State Governments and State-owned corporations to enable them to complete ongoing rural infrastructure projects. The foreign banks having shortfall in lending to stipulated priority sector target/sub-targets are required to contribute to Small Enterprises Development Fund (SEDF) to be set up by Small Industries Development Bank of India (SIDBI).
o Statement 2 is correct. The RIDF was set up by the Government in 1995-96 for financing ongoing rural Infrastructure projects. The fund is maintained by the National Bank for Agriculture and Rural Development (NABARD).