Industry players especially from the ailing realty sector is not enthused with RBI’s slew of announcements.
Knight Frank India CMD Shishir Baijal said it would have been a big respite if the long-standing real estate industry demand for a one - time restructuring of loans was allowed along with the measures announced.
‘’The expected contraction of the GDP is worrisome emanating from a significant drop in private consumption. While the RBI has taken steps to boost liquidity, one of the real challenges remains boosting of demand which we hope that subsequent announcements will address,” he noted.
ASSOCHAM President Niranjan Hiranandani however, said industry awaits one time debt restructuring as a holistic measure to give breather to the industries across the board and help in its quick revival.
CREDAI National President Satish Magar said the realty sector had expected more stringent measures from the RBI booster to revive the economy. The move of moratorium extension is a short term problem. The interest rate should be reduced with firm liquidity measures as this is the need of the hour backed by one time restructuring of loans to help the realty sector from crumpling.
‘’Government now needs to ensure that banks are forthcoming and are passing on the benefits to the realty sector as there is a dearth of income owing to the COVID crisis,’’ he said.
