Siddipet’s Steel Bank concept finds mention in Economic Survey 2023-2024

The Economic Survey 2023-24, which was presented in the Parliament by union Finance Minister Nirmala Sitharaman on Monday, has lauded the concept of a Steel Bank, which was launched in Siddipet two years ago.

Siddipet: The Economic Survey 2023-24, which was presented in the Parliament by Union Finance Minister Nirmala Sitharaman on Monday, has lauded the concept of a Steel Bank, which was launched in Siddipet two years ago.

The concept revolves around addressing the challenge of managing plastic waste, particularly disposable plastic utensils, in Siddipet district through a creative and sustainable solution.

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The Economic Survey specially mentioned that the Steel Bank had restricted the use of 28 quintals of plastic waste per month during the Kanti Velugu programme. Since the government had organised eye camps for multiple days, doctors and other staff used to stay in villages for days, the panchayats served everything in steelware.The steel bank concept entails providing a variety of steel utensils such as plates, spoons, glasses, bowls, and basins which are stored as a bank at the gram panchayat office.

The Economic Survey mentioned that the initiative restricted the use of 6 to 8 kg of plastic for each event organised at the panchayat. Former minister T Harish Rao had launched the initiative in Siddipet municipality by guiding citizens to open steel banks in every ward and street so that citizens could restrict the use of plastic during functions.The panchayat officials replicated it in 499 gram panchayats. The idea was replicated in many gram panchayats across the nation under the name of ‘Barthan Bank’ after its success in Siddipet.

The Economic Survey says the benefits of the initiative have been the reduction of plastic waste accumulation and increased community awareness regarding the adverse effects of plastic consumption such as cancerous and digestive issues due to indirect consumption of micro-plastics.

Sharing this on ‘X’, Harish Rao congratulated the people of Siddipet and SHG group members and appreciated their contribution in making the idea a great success.