A senior industry official has suggested that the government reduce the Goods and Services Tax (GST) on cement from 28% to 18% and introduce supportive policy measures in the upcoming Budget to increase the consumption of this critical building material.
The official highlighted the need to expand cement manufacturing capacity in India to meet rising demand, which is expected to grow at an average annual rate of 7–8%.
He noted that lowering the GST has been a long-standing industry wish and emphasized that cement plays a key role in national growth. Cement concrete roads, he added, have greater longevity and are more cost-effective in the long run compared to bitumen roads.
The official also pointed out that as demand for cement improves, prices are likely to follow suit, further strengthening the market.
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