Budget 2021: Need boost; non-availability of bank guarantees stifling, says construction companies

As the countdown to the budget 2021 begins, CNBC-TV18 get in touch with players from different sectors to get a sense of what they are expecting from the finance minister and infrastructure sector is on the radar today.

The availability of bank guarantees is the biggest issue for construction companies, said YD Murthy, Executive Vice President-Finance at NCC, on Friday.

Speaking in an interview to CNBC-TV18, Murthy said, “Banks have their own issues because there is a lot of stress for the banks as far as construction business is concerned because of corporate debt restructuring (CDR) followed by SDR by major construction companies during last 10-years. Banks have suffered a lot and they are not very keenly coming forward to provide an additional bank guarantee.”