• Cement demand in the eastern region of the country is expected to grow by 8-10% in the current fiscal despite slowdown in the economy, industry sources said.
  • Demand for the construction material in the eastern part of the country will continue to be better compared to pan-India scenario in the current fiscal, according to a rating agency report.
  • Growth in cement demand in India is expected to be lower at seven per cent in the current fiscal, down from double-digit rise in the previous year, owing to slowdown in the economy, the report said.
  • The domestic steel sector is facing challenges in form of high input costs and unavailability of coking coal in the country, SAIL chairman A K Chaudhary said, and conveyed that the government is aware of the issues and taking appropriate measures to resolve them.
  • India’s crude steel output fell for the second straight month in November, declining 2.8% to 8.934 million tonne, according to a report. During November 2018, the country’s crude steel output stood at 9.192 million tonne, according to World Steel Association (worldsteel).
  • Global steel production also registered a 1% fall at 147.791 MT in November 2019 as compared with 149.356 million tonne in November 2018, the report said.
  • The Bhilai Steel Plant (BSP) had recently undergone modernisation and expansion, raising the plant’s production capacity to approximately 7 million tonne from 4 million tonne at an estimated investment of around ₹17,000 crore. According to Anirban Dasgupta, Chief Executive Officer, BSP, plans are afoot to enhance the production capacity to 10 million tonne by 2030. Work on the next phase of expansion is likely to commence by 2024-25.
  • Chhattisgarh Chief Minister Bhupesh Baghel has demanded under-construction Nagarnar plant in his state to be handed over to the state. Baghel said this on the decision of divestment of the plant even before its completion.
  • Corporate India has pitched for “uniformity” in the corporate tax rate, stating that a rate of 22% for existing firms and 15% for new manufacturing firms creates “inequality”.
  • All corporate tax rates in the country should be converged to 15%, with no exemptions and incentives ,over three years from April 1, 2023, Confederation of Indian Industry President Vikram Kirloskar suggested to Finance Minister Nirmala Sitharaman at the pre-Budget meeting convened with prominent industrialists here.