Hyderabad, Sep 19 (UNI) The South Indian Cement Manufacturers’ Association (SICMA) today expressed its sincere appreciation to Prime Minister Narendra Modi, and union Finance Minister Nirmala Sitharaman, for the landmark decision to reduce Goods and Services Tax (GST) across a wide range of goods and services, including cement.
This timely and progressive measure enhances consumer affordability, boosts industry competitiveness, and marks a major step in India’s journey towards Atmanirbhar Bharat, the association said in a statement here.
It demonstrates the Government’s commitment to inclusive development and addresses longstanding concerns across multiple sectors, the association said, adding the GST Reduction on Cement from 28 per cent to 18 per cent, is a boost to Housing and Infrastructure.
As a core input in housing, infrastructure, and industrial development, the lower rate will ease construction costs – benefiting individual home builders, affordable housing projects, and public infrastructure initiatives, it said.
By making cement more affordable, this measure supports the Government’s Housing for All mission, expands access to home ownership, and promotes balanced growth in both urban and rural India, it said.
SICMA believed the revised GST structure will energise demand, spur investment, and create employment.
