India’s federal government is keeping a close watch on cement prices and hopes that cement companies will "moderate" prices, the NDTV Profit news channel reported Friday, quoting finance minister P. Chidambaram.
He said that the government would also consider moderating prices of cement, hinting that dual excise duties imposed on the commodity may be eased, the channel said in a scrolling message.
The government raised the excise duty to INR600 per ton from INR408 per ton for cement sold at more than INR190 per 50kg bag.
The government may also impose stock limits on certain commodities, the channel cited Chidambaram as saying.
The government has already banned futures trading in pulses, wheat and rice to tame inflationary pressures.