NAREDCO welcomes the Govt move to reduce the import duty on raw materials of iron and steel

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NAREDCO welcomes the Govt move to reduce the import duty on raw materials of iron and steel: Rajan Bandelkar, President, NAREDCO

“The move to reduce the import duty on raw materials of iron and steel and steps to ease supply of cement would help curb the inflation and the soaring prices in the real estate segment. NAREDCO and the developer fraternity highly appreciates the Central Government and Honourable Union Minister for Housing and Urban Affairs & Minister of Petroleum and Natural Gas of India Shri. Hardeep singh Puri on the timely and apt measures. High input cost have been impacting the developers over the past several months and property prices too have seen an uptick of late, bringing concerns for the nascent recovery of the realty sector in the country. Now, the measures should help further improve the home buyer sentiment. Better availability of cement through improved logistics also comes as a welcome move, however, the steps should be complemented with GST rationalisation on cement, which forms a major part of the construction expenditure.

The steep excise duty cut on petrol and diesel also would eventually lower the cost pressure with transportation costs going down. All the measures are significant decisions as they would provide the much needed relief to the common man and also calm down inflationary concerns. Multi-year high inflation had raised fears of growth slowdown. If inflation is under control, interest rate hikes too may be restrained, supporting the growth momentum.”

About Post Author

Suman Munshi

Founder Editor of IBG NEWS (15/Mar/2012- 09/Aug/2018). Recipient of Udar Akash Rokeya Shakhawat Hossain Award 2018. National Geographic & Canon Wild Clicks 2011 jury and public poll winner. Studied Post Graduate Advance Dip in Computer Sc., MBA IT,LIMS (USA & Australia), GxP(USA & UK),BA (Sociology) Dip in Journalism (Ireland), Diploma in Vedic Astrology, Numerology, Palmistry, Vastu Shastra & Feng Sui 25 years in the digital & IT industry with Global MNCs' worked & traveled in USA, UK, Europe, Singapore, Australia, Bangladesh & many other countries. Education and Training advance management and R&D Technology from India, USA, UK, Australia. Over 30 Certification from Global leaders in R&D and Education. Computer Science Teacher, IT & LIMS expert with a wide fan following in his community. General Secretary West Bengal State Committee of All Indian Reporter’s Association
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