10 Jan 2021

Prices Of Steel And Cement Increasing Rapidly And Reason Behind Is Unthinkable: Nitin Gadkari

Reports have been coming in from Union Minister Nitin Gadkari who in a press conference for MSME have said that there is a cartel in cement and steel industry. 

Every steel company has its own iron ore mines and there has been no increase in labour and power costs but they are increasing rates. It is difficult for me to understand the reason behind it.

The Union Minister has said that every Steel Company has all the raw materials and facilities at old rates but still the prices in steel have been regularly increased and the reason behind it is unthinkable.

Cement factories are exploiting the situation. It's not in national interests. We're planning to implement infrastructure projects worth Rs 111 lakh crores in next 5 years. 

According to Union Minister Nitin Gadkari the prices of Steel and cement have been increasing rapidly in the past few days and the reason behind these increase has made things worse for the government to control present crisis.

If rates of steel and cement continue like this, it'll be very difficult for us.

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