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Cement cos to build on core play
By agencies
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Wednesday, 01 March 2006, 20:30 IST
NEW DELHI: The cement sector found no mention in the Budget, however there was much cheer in the industry due to the increased emphasis on infrastructure, which is expected to boost cement demand.
Analysts said, proposals like enhanced outlays for various schemes would give a significant fillip to the infrastructure sector. The outlay for the National Highway Development Programme (NHDP) has been hiked from $2071.11 million to $2210 million in the financial year 2006-07.
Also, an additional $122.22 million has been allocated for the accelerated road development program of North Eastern states. In a new initiative, about 1,000 km of access-controlled expressways are planned. Further, $163.33 million outlay for the port and shipping sector is expected to enhance cement consumption.
ACCs Finance Director, Nash Italia said, All these efforts will boost infrastructure development, which will boost cement sales. However, the fact that customs and excise duties on cement remain unchanged is quite disappointing, he added.