Cement prices in Mumbai are expected to decrease by 25-30 per bag. This follows a reduction in GST rates on cement from 28% to 18%. Companies are likely to roll back recent price hikes to pass on the tax benefits to consumers. Analysts believe that lower prices may not immediately boost demand due to cement's inelastic nature.
India's property sector is poised for a boost as the government reduces the GST on cement from 28% to 18%, potentially lowering project costs for developers and homebuyers. Additional tax cuts on marble, granite, and other construction materials are expected to further ease cost pressures. This rationalization is anticipated to stimulate consumption and propel India's GDP growth.
