- Finance minister has interacted with the industry representatives to understand measures required to remove friction points in the economy.
- The measures are aimed at ensuring easy availability of funds to productive sectors and stimulate overall growth.
- The real estate sector has also flagged their concerns regarding the ongoing liquidity crunch,demand slowdown and problem of stalled projects.
- The industry sector have demanded that banks and NBFCs should be encouraged to fund projects.They have also asked the Government to create Rs 10,000 crore stress fund to complete such projects and provide relief to these homebuyers.
- Further,the industry have also suggested measures such as (a)reduction of interest rates on home loans to 7% and (b)withdrawal of the recent National Housing Board(NHB) circular prohibiting subvention scheme where the interest is paid by the developer for certain fixed time.
1 min read