Addressing a joint press conference in the national capital on November 12, Union Finance Minister Nirmala Sitharaman said, “Support for construction and infrastructure-performance security on contract to be reduced to 3% instead of 5%. Earnest Money Deposit will not be required for tenders and will be replaced by bid security declaration. Relaxations will be given till December 31, 2021.” <br />“For primary residential real estate sales, relief on the difference between circle rate and agreement value up to 20% vs 10% earlier. We expect a lot of clearance of inventories through this step,” she added.
