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Cement industry sore over hike in excise duty

Our Bureau

CHENNAI, Feb. 28

THE cement industry is disappointed because of the increase in excise duty even though it says that there are a number of measures that should spur demand.

The excise duty on cement has been increased by Rs 2.50 a bag.

This increase, according to industry sources, is unwarranted as demand is yet to pick up in most markets, and prices continue to be under pressure.

The last time an increase in excise duty on cement was effected was in 1995-96, according to Mr A.V. Dharmakrishnan, Senior Vice President - Finance, Madras Cements Ltd.

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