Even as the real estate sector reels under a slowdown, the government may make some announcement for the sector in the coming days, CNBC TV18 reported Minister of State (MoS), Finance & Corporate Affairs, Anurag Thakur as saying at an event on Wednesday. The government has met the stakeholders, industry leaders, homebuyers, real estate sector and discussed the difficulties faced by the industry in various sectors in the last few days, Anurag Thakur had recently said in an interview to ET Now. The country’s real estate sector is battling the ongoing slowdown amid tight liquidity, default by many builders and elevated property prices.
On bank merger, Anurag Thakur said that the consolidation of PSBs will lead to cost benefits, higher productivity, ramp up credit growth and assure that there will be no job losses because of the merger. Speaking about the recent move by the RBI mandating banks to link their loans to an external benchmark, the minister said it’s commendable that 14 PSBs have already come out with repo-linked loan products. There is an appeal to PSBs to further pass on benefit of rate cuts to firms so they are able to invest, he added.
Meanwhile, finance minister on Wednesday said that the government is not underestimating the slow GDP growth and has full focus on how it can rise in the next quarter. She added that the dips and raise in the GDP growth do happen and it is a part of the growth, however, she also mentioned that the government is conscious that it has to respond. Given the current shape of the economy, the money has to come from multiple windows.