Rs. 25,000 Crore Relief For Bleeding Real Estate Sector
The government on Wednesday announced a Rs. 25,000-crore fund for stalled real estate projects, in a bid to boost the real estate sector. Announcing the decision, Finance Minister Nirmala Sitharaman said the government will put in Rs. 10,000 crore in this Alternative Investment Fund (AIF) while country's largest lender State Bank of India (SBI) and state-run insurance company Life Corporation of India (LIC) would jointly provide another Rs. 15,000 crore, taking the total size to Rs. 25,000 crore.
