Measures to enhance fund flows for housing projects

Measures to enhance fund flows for housing projects

Finance Minister Nirmala Sitharaman, MoS for Finance Anurag Thakur, and finance secretary Rajiv Kumar during a press conference in New Delhi on Friday. PTI photo

Finance Minister Nirmala Sitharaman on Friday proposed to establish an organisation to provide credit enhancement for infrastructure and housing projects with an aim to enhance fund flows towards such projects.

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Announcing steps to prop up the slowing economy, the minister said that in order to improve the domestic bond market, the finance ministry will work with the RBI to make it more conducive for investors and bond issuers, as well as facilitate increased trading for price discovery.

The government will also take further action on the development of credit default swap markets in consultation with the Reserve Bank and market regulator Sebi.

The minister also outlined steps like labour reforms, an amendment to the bankruptcy law to increase investments.