Budget 2015-16: Dear FM, Regulate Construction Material Cost

Nagaraj Reddy, CMD Zonasha Projects and President CREDAI Karanataka

The main expectation from our end would be the reduction of interest rates and regulation of construction raw material costs such as cement and steel. Excise duty toward ready-mix concrete and steel fabrication should be abolished. Inflation has come down in recent times but the cost of construction has not and this has had an adverse effect on the industry.

I would like to see the Government factor in rate concessions that are virtually non-existent today and also believe it is time to declare the sector as a priority sector.

Ashok Gupta, CMD, Ajnara India Ltd.

As India is gearing up for Make in India, the challenge greatly lies on the manufacturing industry. Over the next few decades, the construction industry will witness a massive growth globally and hence, raw materials such as cement, bricks, steel, concrete, etc. will be used in abundance.

Therefore, we need to create a perfect balance between the demand and supply along with appropriate consideration for the environment. This immensely depends upon the costs of the raw materials used during construction process such as cement, iron, etc. This budget, the government needs to regulate the prices of these materials so as to curtail rising property prices.