The government is working on reviving the real estate sector, says Nirmala Sitharaman.

On Tuesday, Finance Minister Nirmala Sitharaman flagged concerns about the real estate sector problems, saying that much attention is needed in the ailing industry.

“The Indian Government is extremely committed to and works with RBI to see how best we can change existing legislation, where it is required, and assist the people in this particular sector (real estate), which until now has not been fully addressed,” Sitharaman said at a 25-year NSE function. She said the industry had a stock-market cause and effect.

“We must say that there are alternative funds which are now coming to us saying that, while there is some support mechanism available to revive the real estate sector, we want to do something with you,” she added.

“The real estate sector needs much more attention because it needs to address the drowsiness that prevails,” she pointed out. Sitharaman stated that India needs a vibrant stock market, and marking November 3 as retail investors’ day is a good step because it fetches more retail participation in the market.

Ajay Tyagi, Chairman of the Securities and Exchange Board of India (Sebi), said at the same event that Indian capital markets are on an exciting trip.

Further, he added, Capital markets ‘ depth was an indicator of a country’s economic growth. Tyagi said that while it is important to do business with ease, protection of investors is equally important.

NSE Managing Director and Chief Executive Officer Vikram Limaye said that India has grown into an attractive investment destination over the years. In order to increase market competition, he urged the Minister of Finance and the Sebi to examine the security transaction costs.