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Business News/ News / India/  Karnataka readies to exempt GST, royalty on construction material, says CM
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Karnataka readies to exempt GST, royalty on construction material, says CM

Karnataka: Chief Minister Basavaraj Bommai has said that he is ready to exempt GST and royalty on steel, cement, and other construction materials if the Centre bears 25% of the land acquisition cost for the projects

Karnataka Chief Minister Basavaraj Bommai (HT_PRINT)Premium
Karnataka Chief Minister Basavaraj Bommai (HT_PRINT)

Karnataka Chief Minister Basavaraj Bommai has said that he is ready to exempt GST and royalty on steel, cement, and other construction materials if the Centre bears 25% of the land acquisition cost for the projects. CM Bommai was speaking during the foundation laying ceremony for 925 kilometres of the national highway. He said if the Centre agrees to his proposal, a Memorandum of Understanding would be signed in this regard. He also said the state government is ready to offer similar concessions in implementing the Satellite Town Ring Road project in Bengaluru and other cities like Kalaburagi and Belagavi.

During the ceremony, Union Minister for Surface Transport and National Highways Nitin Gadkari was also present. Lauding Gadkari, the Karnataka CM said the minister has made an immense contribution to the development of the northern part of the state. The completion of the four-lane Hospet-Hubballi highway and Chitradurga-Hubballi highway has brought big relief from the problems and accidents for the people in this region, the CM added.

The Chief Minister requested Gadkari to take up work on Kaiga to Ilkal road as part of the Naragund-Bilagi-Gajendragad-Kushtagi-Sindhanur National Highway-115.

Yesterday, Gadkari laid foundation stones for five National Highway projects spread over 238 km and worth 3,972 Cr in Karnataka's Belagavi. The project is said to improve the interstate road connectivity from Karnataka to Maharashtra and Goa.

"These NHS will decrease traffic jams and fuel consumption, make commuting faster and improve port connectivity in the region," Gadkari said.

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Published: 01 Mar 2022, 12:53 PM IST
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