Question

‘Production and consumption of steel is often regarded as the index of a country’s development’. Examine the statement

Answer 1

Production and consumption of steel is regarded as the index of a country’s development because of the following reasons: 

• The production and consumption of iron and steel reflects the level of industrialisation and economic development of a country. 
• All the other industries depend on it for their machinery. It provides raw material for making industrial machinery, electrical machinery, defence equipments, bridges, dams, shops, houses, etc. 
• Vehicles carrying goods from one place to another are also made up of steel. It is because of these vehicles that our goods are transported from one place to another. 
• Steel is required to manufacture a variety of consumer goods, like bicycles, fans, furniture, tractors, etc. 
• It is the basic unit of economy. All buildings and infrastructures are constructed using iron and steel. 

Answer 2

(i) Steel production is the backbone of any country's economy since it is the basic unit for the development of the nation.

(ii) Almost every industry depends on iron and steel for its manufacturing and production.

(iii) In todays era of globalisation consumption of goods is increasing. Thus, it can be concluded that growth in production of steel is regarded as the index of country's development.