Finance Minister Nirmala Sitharaman on Saturday anunced a new set of measures to boost ecomy, with a focus on boosting exports, real estate, and housing sector. This has been third instance of Finance Ministry anuncing measures to push ecomy. 

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Real estate push

Ministry anunced multiple measures to push real estate segment, with a Rs 10,000 crore special window to provide last-mile funding for completion of ongoing housing projects which are t NPAs or facing bankruptcy proceedings under NCLT being biggest one. funding will only be for those pending projects which are n-NPA and n-NCLT and fall under affordable and middle-income category.  objective of government is to focus on construction of unfinished units. government will contribute to funds, as per  National Investment and Infrastructure Fund (NIIF) guidelines and will also allow outside investors including LIC, private capital from banks, sovereign funds, DFIs, etc. government will be contributing Rs 10,000 crores and external investors will have to contribute same. 

 External Commercial Borrowing (ECB) guidelines will be relaxed to facilitate financing of home buyers who are eligible under Prhan Mantri Awas Yojna (PMAY), in consultation with RBI. It will be an dition to prevailing rms for affordable housing.

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  interest rate on House Building vance shall be lowered and linked with 10-year government security yields. FM said, "Government servants contribute to a major component of demand for houses. This will encour more government servants to buy new houses". 

Government servants contribute to a major component of demand for houses and this move will encour more government servants to buy new houses. 

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Recap on previous measures 

FM also highlighted steps that h alrey been taken by government. She mentioned an ditional deduction up to Rs. 1.5 lakhs for interest paid on loans borrowed up to 31st March 2020 for purchase of house valued up to Rs. 45 lakh as well as a reduced EMI for housing loans by directly linking Repo rate to interest rates. She also mentioned increased credit support for purchase of houses, vehicles, consumption goods. 

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