The case of real estate developers getting a special hearing at North Block is disappointing. The sharp price hike in real estate over the past few years was not based on anything other than speculation. Though this sector employs a large number of people directly and indirectly, the government should not get fooled by these developers demanding lower interest rates under the guise of workers losing their jobs. Let demand and supply drive this industry. When real estate firms have enjoyed monstrous profits in the past, they should be willing to accommodate even zero margins now.
Yugal Joshi, Mumbai
