Bengal MSME and realty sector welcome PM’s initiatives

KOLKATA: The real estate and MSME industries have hailed the sops announced by Narendra Modi on Saturday. Representatives of the MSME industry bodies are, though, a little apprehensive about the implementation of the enhance credit guarantee limit in the ground level.

The convener of core committee of Credai Bengal, Sushil Mohta, feels that it’s a welcome move for the real estate industry as well as the middle-class. He said 4% and 3% interest rate subvention for loan amount up to Rs 9 lakh and Rs 12 lakh respectively will be a huge boost for affordable housing sector.

Chairman of Credai Bengal, Nandu Belani, said affordable housing would get a boost. He said there are places in Kolkata where flats can be offered at Rs 20-22 lakh. Siddha Group MD Sanjay Jain said the group is planning to come out with 3,000 flats in this range. President of Federation of Small and Medium Industries, Biswanath Bhattacharya, said increase in the amount of credit guarantee for MSME was a demand of the sector. Rishabh C Kothari, director of C K Fragnances and chairman of MSME committee of MCCI, also hailed the announcement.

Credits ET Realty

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