Department of Economic Affairs (DEA) and National Buildings Construction Corporation Ltd (NBCC) have signed an agreement for the construction of housing project for Indian Economic Service (IES) officers.

For this, the urban development ministry has allotted 3,519 square metre of land on Deen Dayal Upadhyay Marg in the national capital to build 90 flats for the officers.

The government has approved the said plan because of dearth of houses under the government general pool accommodation, particularly for junior-level officers.

NBCC has been roped in by the ministry of finance as the project management consultancy for the project.

Finance minister Arun Jaitley said that it was a joyous opportunity that the pact between the DEA and NBCC was seeing the light of the day. He also conferred awards to IES officers who won the Research Promotion Scheme and said that he hoped the scheme continues every year so that the interest in scholarship is alive and going.

The evaluation panel, which is headed by the Chief Economic Adviser, has selected the four best research papers, out of twelve received in the first year after institution of the scheme.