Comment on RBI Policy by Ms. Manju Yagnik, Vice Chairperson, Nahar Group

It’s a status Quo on the policy. Real Estate being one of the largest contributors to the GDP will not gain out of this policy. There will be no inflow of additional funds in this sector due to no relief in interest rates. Finance to the real estate sector has not been touched upon either. For consumption of high value product RBI will have to take steps to increase cash flow in the hands of the consumers. This is not coming out of this policy. Future rate cut will also depend on the prevailing conditions then. RBI and the government need to take concrete steps to help the industry grow. Real estate is not only capital intensive, but high employment creator which is very essential for the socio-economic development of the country.