In another round of economic boosters, Finance Minister Nirmala Sitharaman has announced measures related to exports and home buyers. The FM has announced steps to boost exports including Dubai-like mega annual shopping festival from next year, new automatic refund system for exporters from next month. For home buyers, government has set up a stress fund of Rs 20,000 crore for completion of stalled projects. However, the fund will not cover the projects affected by NPA and NCLT issues.

Key Highlights:

• Special window for affordable and middle income housing to revive stalled housing projects.
• Rs 10,000 will be contributed by the govt and the same amount will come from outside investors.
• This special window will provide last mile funding for housing projects which are non-NPA and non-NCLT projects. It will focus on unfinished projects.
• Real estate external commercial borrowing guidelines to be relaxed for affordable housing.
• Dubai-like annual mega shopping festival to be organised at four places across India by March 2020.
• Themes for the shopping festival will be Yoga, Textile, Tourism and Leather.

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