India's steel demand revival hinges on Modi's roads-to-rail spending

Mumbai

A REVIVAL in India's steel consumption from the weakest estimated growth in at least four years hinges on the government boosting spending on infrastructure, housing and road projects to absorb record output.

Finance Minister Arun Jaitley will announce on Feb 1 higher outlays for national highways, rural roads, railways and low-cost housing, Goldman Sachs Group Inc predicted in a Jan 19 report.

Any major budget initiatives in infrastructure and construction would stimulate domestic steel demand, …