The objective is to focus on construction of unfinished housing units
The special window will provide funding to net-worth positive housing projects (non-NPA and non-NCLT projects)
Finance Minister Nirmala Sitharaman today announced a number of measures to boost the housing and export sector. This includes a ₹10,000 crore special window to extend funding to incomplete housing projects. The announcements come as the Indian economy is grappling with a sharp slowdown. In the most recent quarter, GDP growth slowed to a six-year low of 5%. Many sectors like auto and real estate are grappling with a sharp slowdown in demand. In recent weeks, the government has announced a slew of measures, including front-loading of public expenditure, and improved access to credit for businesses and capital infusion into state-run banks to boost credit.
The government had also eased foreign direct investment (FDI) rules in many sectors to get economic growth back on track.