The Centre is readying a package to help boost exports and perk up the real estate sector. According to senior government officials, the steps in real estate could include a task force to identify and revive stalled projects, easing of interest subvention norms, a new rental housing policy, an increase in the affordable housing category limit and reducing time taken to process applications under the partial guarantee scheme for housing. In addition, there could be specific measures to make export credit easily accessible to small exporters. Expediting work on the long-awaited goods and services tax (GST) e-wallet for exporters is yet another announcement expected soon.
While announcing the first set of measures last week, Finance Minister Nirmala Sitharaman had promised two more rounds to boost some of the stressed sectors, including real estate. Officials said a package aimed at home buyers and real estate developers could come by the end of this week.
The real estate industry, which has been in the doldrums for almost four years now, has been demanding regulatory and tax changes to shore up the demand and liquidity. Sitharaman, along with Urban Development Minister Hardeep Puri and senior officials, had met representatives of the housing industry recently to discuss the status of the sector.
Source: Business Standard
