Will the GST Cut on Cement Save India’s Struggling Affordable Housing Market?
If you’ve been following India’s real estate developments, you've probably heard the buzz: there's a strong push to cut the GST (Goods and Services Tax) on cement . Cement – the very foundation (literally) of every building, road, and infrastructure project – is currently taxed at a steep 28%. But with growing pressure from developers and economists alike, there’s rising hope that the government may finally bring this rate down. But here’s the big question – will a GST cut on cement really revive India’s struggling affordable housing market ? The Current State of Affordable Housing in India Over the past decade, India has made ambitious efforts to boost affordable housing. Schemes like Pradhan Mantri Awas Yojana (PMAY) aimed to make housing accessible to every citizen, especially the urban poor. But despite good intentions, the reality on the ground has been far from perfect. Many developers have exited the affordable housing space, citing poor margins, high input costs, and r...