Finance Minister Arun Jaitley today said that the real estate sector has huge potential for growth and hoped that the period of slow down would end soon.The minister emphasised on the need of more townships, sub-urban townships and smart cities to lead the economic development of India.Addressing the CREDAI-BANKCON 2015 on Role of Banking and Finance in Real Estate Development in Mumbai he said that the sector will be the next big mover as far as the Indian economy is concerned, but added that the industry must survive on market economy and subsidies should not be the essence of survival.Office bearers and members of CREDAI, Maharashtra Chamber of Housing Industry and leading real estate developers were present at the conference.He said that the government has taken steps to pull the highways and steel sectors out of distress and now improving health of the power sector will be given top priority.He further said that the main challenge in the power sector is at the last mile as many distribution companies are in distress, mainly due to their policy of not charging consumers for the cost of power, making them dependent on bank loans. On the distress in the banking and finance sector, the minister said, the government has tried to recapitalize banks and given them a road map for three-four years.Hopefully this will give more strength and muscle to the banks.