 "Budget: Fiscal deficit under control, courtesy healthy non-tax revenues")
Budget 2019-20 proposals such as recapitalisation of banks and credit guarantee for buying pooled assets could ease the liquidity crunch real estate developers are currently facing, said developers, finance companies and fund managers.
The Budget, presented last Friday, provided Rs 70,000 crore for recapitalisation of public sector banks (PSBs). This is expected to lift domestic credit growth and help banks meet increased capital requirements.
“Developers were not paying non-banking finance companies (NBFCs) and NBFCs did not have funds,” said Vikas Oberoi, chairman and managing director, Oberoi Realty, a Mumbai-based developer, adding: “The government has reset the entire repayment
The Budget, presented last Friday, provided Rs 70,000 crore for recapitalisation of public sector banks (PSBs). This is expected to lift domestic credit growth and help banks meet increased capital requirements.
“Developers were not paying non-banking finance companies (NBFCs) and NBFCs did not have funds,” said Vikas Oberoi, chairman and managing director, Oberoi Realty, a Mumbai-based developer, adding: “The government has reset the entire repayment
