![](https://www.newsexperts.in/wp-content/uploads/2021/02/BAI-photo.jpg)
![](https://www.newsexperts.in/wp-content/uploads/2021/02/BAI-photo.jpg)
KOCHI:
Construction industry contributing maximum GDP growth and accounts for more than 50% of total plan outlay. It employs more than 60 million workers and next only to agriculture in employment it has forward and backward link with more than 400 allied industries.
Cement is one of the major construction material used in all segments of construction industry and is a basic input for construction sector, but cement manufacturers are deliberately not using the installed capacity of cement production with the purpose of creating an artificial shortage of cement in the market to influence the price. In case No.29/2010 filed by BAI conclusively found the existence of cartel arrangements among the cement manufacturers, resulting the manipulation of sale price of cement and imposed a penalty of Rs.6307 Cr. on 10 cement manufacturers and also issued a cease and desist order.
Regulatory Authority
Parliamentary standing committee of Ministry of Commerce presented its 95 the report strongly recommends that the Government should establish a statutory regulatory authority to regulate the price of cement to curb the tendencies of market dominance, under utilisation of capacity and artificial scarcity.
more recommended stories
KSUM’s July 20 Beyond Tomorrow Conclave to Drive InnovationKOCHI:Kerala Startup Mission (KSUM) is organising.
Muthoot Risk Insurance & Broking Services (MRIBS) Opens New Head Office in ThiruvananthapuramTHIRUVANANTHAPURAM:Muthoot Risk Insurance & Broking Services.
Great Mid-Size Workplaces: H&R Block at Technopark Ranked First in IndiaTHIRUVANANTHAPURAM:Global consumer tax services provider H&R.
Triassic Solutions Forms Joint Venture with Sequoia Applied TechnologiesTHIRUVANANTHAPURAM:Kerala based software company Triassic Solutions.
SBI Unveils “Amrit Vrishti” Term Deposit SchemeMUMBAI:State Bank of India (SBI), country’s.
Ageas Federal Life Insurance Introduces ‘Golden Years Pension Plan’MUMBAI:Ageas Federal Life Insurance, one of.
UPI Goes Live at Galeries Lafayette’s Flagship Store in ParisKOCHI:NPCI International Payments Limited (NIPL), in.
India at the Forefront of Economic TransformationNEW DELHI:Marcellus Investment Managers, renowned for.
Women Entrepreneurship Platform and TransUnion CIBIL Partner to Launch SEHER ProgramKOCHI:SEHER, a credit education program launched.
A Suzuki Initiative, Launches Rs 340 Crore Fund to Empower Bharat’s EntrepreneursGIFT CITY:Next Bharat Ventures IFSC Private.