The Finance Ministry has proposed amendments to FEMA to allow foreign investment in real estate investment trusts (REITs) in India in order to boost funding for the cash-strapped real estate sector. REITs will help attract large institutional funds and make the real estate sector more efficient and transparent by pooling capital from investors to purchase and manage income-yielding real assets. The Finance Minister is expected to announce measures in the upcoming budget to make REITs more attractive investments by reducing tax liabilities such as potentially exempting them from minimum alternate tax and shortening the lock-in period for capital gains tax exemption. Blackstone and Embassy Group plan to launch India's first REIT to raise Rs. 5,000 crore in