Mumbai: Finance Minister Nirmala Sitharaman on Tuesday flagged concerns over the problems faced by the real estate sector, saying that the ailing sector required a lot of attention.
“The government of India is very keen and is working with RBI to see how best we can where necessary tweak the existing laws and help the people in this particular sector (real estate) which is not completely addressed till now,” Sitharaman said at a function to mark 25 years of NSE.
She said the sector had a cause and effect impact from the stock market.
“We have to say there are alternative funds, which are now approaching us saying we would like to do something with you all so long as there is some support mechanism available for reviving the real estate sector” she added.
“Real estate sector requires a lot more attention because the sluggishness which prevails there must be addressed,” she pointed.
Speaking at the same event, Ajay Tyagi, Chairman of the Securities and Exchange Board of India (Sebi) said Indian capital markets have an exciting journey.
He said the depth of capital markets was an indicator of economic growth of a country.
Tyagi pointed out that while ease of doing business is important, investor protection is equally important.
Vikram Limaye, Managing Director and CEO of NSE, said that over the years India has emerged as an attractive investment destination.
He urged the Finance Minister and Sebi to examine to reduce security transaction costs to improve competitiveness of the market.