India’s top builder is clamoring for unconventional policy measures to get the nation out of the worst economic slump in more than six years.
“When demand is as tepid as it is right now in certain parts of the economy and sentiment is negative, we need a bazooka to come out and change sentiment,” Abhishek Lodha, managing director at Lodha Group, said in an interview.
Calls for authorities to unveil more steps have been gaining steam. India’s central bank has struggled to revive economic growth despite being the most aggressive slasher of rates among Asian peers. Government measures have also failed to spur growth. “We have a lot of liquidity, but it’s trapped liquidity in the banking system,” Lodha said.