Pawar Letter to PM on Realty Woes
In a letter written to Prime Minister Narendra Modi, NCP chief Sharad Pawar has expressed concern over the state of the real estate sector, following the Covid-19 pandemic and subsequent lockdown and has sought the intervention of Prime Minister Narendra Modi. The letter stated, "A massive outflux of labourers, stagnant consumer demand and impaired economic activity for almost three months have taken a toll on this industry which contributes substantially to the national gross domestic product (GDP)." He urged the PM to intervene on some recommendations by the builders' body, CREDAI, including one-time restructuring, additional institutional funding, waiver of penal interest and policy innovation for triggering consumer demand. “The detailed presentation is self-explanatory. I shall be grateful if you personally look into the matter and initiate necessary measures for revival of one of the most important sectors of the economy,” the NCP chief wrote.
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