Construction-related industries such as cement sector support the growth of infrastructure and development in the country. In the face of major developments and budgetary allowances for infrastructure, if the construction-facilitating industries such as cement industry, iron industry, steel industry, transport, power remain without any concessions or benefits, then the infrastructure’s effectiveness is reduced drastically.
And the increase in cost of any element of the construction industry would result in increase in the cost of infrastructure and real estate sector ultimately affecting the common man by way of transfer of burden to the ultimate consumer.
Hence Associated Chamber of Commerce and Industry of India (ASSOCHAM) came forth with the recommendation that the exemption should be provided under section 80-IA to cement industry.