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The government has announced a reduction in Goods and Services Tax (GST) on cement and steel from higher slabs to 18%, a move expected to provide significant relief to the construction sector.
Industry analysts estimate that the rate cut will lower overall construction costs by nearly 5%, directly benefiting infrastructure projects, real estate developers, and homebuyers. Cement and steel, being two of the most critical building materials, have long been a major cost component in housing and infrastructure development.
The reduction in GST is expected to improve affordability, accelerate project execution, and boost demand in both the real estate and infrastructure sectors. Experts believe this policy change will act as a catalyst for growth in India’s construction industry, supporting the government’s focus on affordable housing and large-scale infrastructure expansion.
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