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The RBI’s decision to keep the policy rate unchanged is disappointing for the real estate sector, said Shishir Baijal, Chairman & Managing Director, Knight Frank India.
With controlled inflation and the government showing fiscal prudence, one expected the Monetary Policy Committee to have cut the policy rate by a minimum of 25 bps.
“This would have offered banks leeway to further lower lending interest rates to increase capital expenditure and spur growth in employment and sentiment prevailing in the economy. All these factors would have given substantial impetus to the beleaguered real estate sector,” Baijal said.
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