New Delhi, Sep 15 (TIWN) The latest measures announced by the Finance Minister in the field of real estate and exports would help provide stimulus to the slowing economy, industry FICCI President Sandip Somany said on Sunday.

The industry body welcomed the government’s move a day after Finance Minister Nirmala Sitharaman announced steps to help the nearly stalled real estate sector and increase India’s exports. Sitharaman on Saturday announced a fresh set of measures worth around Rs 60,000 crore to boost exports and the housing sector.  “These new measures will provide much-needed stimulus to boost the Indian economy that is now facing the slowdown,” Somany said.  In a statement, Somany also said that the relaxation of external commercial borrowing (ECB) guidelines for affordable housing and reduction in interest on ‘Housing Building Allowance’ in line with the 10-year Government-Securities yield is a major step towards achieving the target of the ‘Pradhan Mantri Awas Yojana’ (PMAY).