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India sets rules for speedy redressal of construction sector disputes

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Reuters NEW DELHI
Last Updated : Aug 31 2016 | 1:48 PM IST

NEW DELHI (Reuters) - The Indian cabinet has eased rules for quicker settlement of disputes in the construction sector, Finance Minister Arun Jaitley said on Wednesday, to pump liquidity and activate some of the stranded real estate and infrastructure projects.

Jaitley said the government and the central bank would also consider to de-stress stalled construction projects to help improve liquidity in the short run.

India's construction sector accounts for 8 percent of the country's gross domestic product.

(Reporting by Manoj Kumar; Editing by Malini Menon)

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First Published: Aug 31 2016 | 1:38 PM IST

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