The government would provide interest subsidy under the scheme
GN Bureau | January 24, 2017
The union cabinet has approved a new scheme for promotion of rural housing in the country. The government would provide interest subsidy under the scheme.
The interest subsidy would be available to every rural household that is not covered under the Pradhan Mantri Aawas Yojana (Grameen), PMAY(G).
Read: Housing is a human right, says Leilani Farha
The scheme would enable people in rural areas to construct new houses or add to their existing pucca houses to improve their dwelling units. The beneficiary who takes a loan under the scheme would be provided interest subsidy for loan amount up to Rs. 2 Lakhs.
Read: Nandita Chatterjee, secretary, MHUPA on housing for all
National Housing Bank would implement the scheme. The government would provide net present value of the interest subsidy of 3 percent to the National Housing Bank upfront which will, in turn, pass it to the Primary Lending Institutions (Scheduled Commercial Banks, NBFCs etc.). As a result the equated monthly instalment (EMI) for the beneficiary would be reduced.
Under the scheme, the government would also take necessary steps for proper convergence with PMAY-G including technical support to beneficiary through existing arrangements. The new scheme is expected to improve housing stock in the rural areas, as well as create employment opportunities in rural housing sector.
State-run aerospace and defence company Bharat Electronics (BEL), a Navratna enterprise, on the first day of its stake sale by the government aimed to raise Rs 1,650 crore received an overwhelming response. Besides, quota of non-retail investors was subscribed by over 2.34 times. The govern
Noted historian Ramachandra Guha has listed reasons on why historical biographies never took off in a big way in India. Delivering the annual lecture at Sahitya Akademi’s Festival of Letters in New Delhi on Thursday, Guha said that historical biography is that part of history which is more
State-run Airports Authority of India, a miniratna PSU, in association with international air transport association (IATA) has unveiled a comprehensive e-billing solution—SKYREV360 to help air navigation service provider (ANSP) and airport operators. The system would help the users to
I dreaded a bit as I stepped inside the Thrissur district general hospital in Kerala. I have walked in and out of government hospitals almost half of my life as a health and science writer for various newspapers. But I was never the patient. Going to a government hospital carried with it&nbs
Should students` unions be banned?
The National Students Union of India (NSUI) on Thursday sought action against those who had assaulted students and teachers of Delhi university at a protest march on Wednesday.` “Our sole motive is to compel the police to take some strict actions against the lawbreakers who brutally manhand