Basic slag is a byproduct formed during the steel manufacturing process, specifically in the production of steel from iron ore in a blast furnace. It is the slag produced when impurities such as silica, phosphorous, and sulfur are removed from the molten iron by adding lime or dolomite. The slag is rich in calcium and magnesium silicates and phosphates, which makes it useful as a fertilizer for correcting soil acidity and providing essential nutrients like phosphorus. It is not related to milk, fertilizer, or cotton industries but is a key byproduct in steel industries.