Rs 70,000 crore boost to housing sector and middle income group through extension of Credit Linked Subsidy Scheme for MIG under PMAY(Urban)
Rs 70,000 crore boost to housing sector and middle income group through extension of Credit Linked Subsidy Scheme for MIG under PMAY(Urban)

Rs 70,000 crore boost to housing sector and middle income group through extension of  Credit Linked Subsidy Scheme for MIG under PMAY(Urban)

  • The government announced the extension of the deadline for the affordable housing Credit Linked Subsidy Scheme (CLSS) till March 2021.
  • The deadline for CLSS had expired on March 31, 2020. According to the government, this move will benefit 2.5 lakh middle income families during 2020-21.
  • Credit Linked Subsidy Scheme for Middle Income Group was ‘operationalized’ from May 2017.
  • Scheme has benefited 3.3 lakh middle class families so far. By extending the deadline, it will lead to investment of over Rs 70,000 crores in housing and will create jobs.

About PMAY-

  • Pradhan Mantri Awas Yojana (PMAY) is an initiative by Government of India in which affordable housing will be provided to the urban poor with a target of building 20 million affordable houses by 31 March 2022.
  • It has two components: Pradhan Mantri Awas Yojana (Urban) (PMAY-U) for the urban poor and Pradhan Mantri Awaas Yojana (Gramin).
  • This scheme is converged with other schemes to ensure houses have a toilet, Saubhagya Yojana electricity connection, Ujjwala Yojana LPG gas connection, access to drinking water and Jan Dhan banking facilities, etc.
  • Ministry– Ministry of Housing and Urban Poverty Allevation
  • Launched – 25 June 2015
  • Key People– Hardeep Singh Puri

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