Union Bud­get 2014-15 prom­ises houses for all by 2022

Accommodation Times - - Current Affairs -

The Fi­nance min­is­ter, Arun Jait­ley an­nounced in the Bud­get 2014 that govern­ment is com­mit­ted to­wards mak­ing houses for all by 2022. Ad­di­tional tax in­cen­tive on home loans will be ex­tended to en­cour­age the youth to­wards the same. An amount of Rs 4, 000crores has been kept aside for Na­tional Hous­ing Bank with a view to in­crease the flow of cheaper credit for af­ford­able hous­ing to the ur­ban poor/EWS/ LIG seg­ment.

Gazing on the con­ges­tion in big cities due to peo­ple mi­grat­ing from small cities, govern­ment has im­ple­mented mea­sures to de­velop 100 smart cities around near metro cities al­lo­cat­ing fund of Rs. 7, 060 crore.

Jait­ley in­formed that the Ru­ral Hous­ing Scheme has ben­e­fited a large per­cent­age of ru­ral pop­u­la­tion who have availed credit through Ru­ral Hous­ing Fund (RHF). In the light of the above, en­hanced al­lo­ca­tions to the tune of Rs. 8,000crore has been made for Na­tional Hous­ing Bank (NHB) for the year 201415 to ex­pand and sup­port Ru­ral Hous­ing in the coun­try. Be­sides, this FM has al­lo­cated ad­di­tional funds of Rs. 2,142 crore for the devel­op­ment of hous­ing in ru­ral ar­eas.

He added that Govern­ment has al­ready out­lined some other in­cen­tives such as eas­ier flow of FDI in this sec­tor and is will­ing to ex­am­ine other pos­i­tive sug­ges­tions. He also in­formed the in­clu­sion of slum devel­op­ment in the list of Cor­po­rate So­cial Re­spon­si­bil­ity (CSR) ac­tiv­i­ties to en­cour­age the pri­vate sec­tor to con­trib­ute more to­wards this ac­tiv­ity.

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