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| Curb to slow inflows in real estate: FM |
| Monday, May 21, 2007 |
The latest restriction on external commercial borrowings is aimed at slowing inflows of foreign debt into India's booming real estate sector, the finance minister said on Monday. "The idea is to slow down external debt in the real estate sector. I hope it will slow down foreign debt in the sector," Finance Minister Palaniappan Chidambaram told reporters.
On Friday, India tightened overseas borrowing rules, making it harder for less creditworthy and smaller local companies to raise funds.
Source://indiatimes.com |
posted by India Properties @ 12:24 AM  |
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