Chairman and managing director of the Hiranandani Group Niranjan Hiranandani said if liquidity issues in the market are not addressed, all other efforts taken to revive the economy would fail.
“I expected the slowdown situation to improve by June. But it has prolonged mainly due to liquidity issues,” he said in an interaction on Thursday.
Mr. Hiranandani also said that the current slowdown was driven by local factors as against the meltdown caused by the global financial crisis in 2008.
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