Nayan Shah, President, CREDAI MCHI on the Nirmala Sitharaman FM announcement

“The Government’s announcement to primarily protect the livelihood of the citizens currently at an economic disadvantage is a step in the right direction. We particularly laud the utilization of the existing Rs 31,000 crore welfare fund for over 3.5 crore construction workers across India. However, there is an urgent need for the Government to follow a similar approach to combat the adverse implications of Covid – 19 on the Indian Real Estate industry. Given the sector’s macro-economic impact and contribution towards the country’s GDP, we urge the Finance Minister to announce a decisive plan of action to ensure that the best interests of Indian Realty, its stakeholders and the economy at large are safeguarded for the long term.”