Economy & Market
CREDAI protests cement price hike, seeks Centre's intervention
The Confederation of Real Estate Developers' Association of India (CREDAI) has sought government intervention to check rising cement prices. The entity said that the spike could "create unnecessary roadblocks and impediments" in achieving the goal of 'Housing for All' by 2022. Cement prices have witnessed a sudden jump of 20-40 per cent over the past two months across the country, says CREDAI.
"We are pained by complaints of unjustifiable and collusive jacking up of cement prices by manufacturers across India, which have the potential to create unnecessary roadblocks and impediments in ensuring 'Housing for All' by 2022, said CREDAI Vice-President Sushil Mohta. He said the Competition Commission of India, on earlier occasions, had pulled up cement manufacturers for "collusive pricing" and had imposed hefty fines on them.