GST Council needs to prioritise CE
ICEMA has already revised downwards its growth figures on construction equipment to 5 per cent from the otherwise estimated 20 per cent growth for the ongoing financial year. According to the Association, majority of the vehicles that contribute to the overall sales of CE in India such as backhoe loaders and excavators will now be taxed at 28 per cent. The GST Council has clarified that it will now consider suggestions and pleas on GST only after its implementation on July 1. This definitely needs a re-look by the GST Council as putting CE in the same basket as luxury cars does not bode well for our infrastructure growth.
Mobile cranes market in India was going through a sluggish performance for the past few years. However, the government's progressive steps towards infrastructure development has brought this equipment segment to the limelight of growth. With bigger projects in Metro, railway, refinery and wind power underway, heavy-duty mobile cranes have an increased presence in these projects. Our Cover Story gives an elaborate picture on the current market of mobile cranes.
The recently inaugurated Dhola-Sadiya bridge, constructed by Navayuga Engineering Company Ltd, is the longest river bridge constructed in India so far. We bring out an exclusive on this mega project with Dr Ir PV Chandramohan, President (Technical), sharing his experience and challenges faced during the construction of this bridge.
Challenging months lie ahead as we need to fight to reclaim our rightful pace in the priorities of the government's plans for the infrastructure sector.