MPs concern over declining credit flow to EWS housing; seek infra status
Union Housing Minister Venkaiah Naidu has said that the Housing for All initiative to be launched soon seeks to address the shortcomings of the earlier housing schemes and is more workable, during a meeting with Members of Parliamentary Consultative Committee, where the MPs expressed concern over the steadily declining housing loans to weaker sections from Public Sector Banks and Housing Finance Corporations. They strongly felt that granting ‘infrastructure status’ to housing sector would help in meeting the credit needs. Naidu sought to address the concerns voiced by the Members of the Parliamentary Consultative Committee of the Ministries of Urban Development and Housing & Urban Poverty Alleviation. The Members of Parliament discussed extensively various implementation issues relating to construction of 2 crore houses for the urban poor by the year 2022. Minister said that affordable housing in rural and urban areas needs land acquisition and this was one of the objectives of amendments proposed by the Central Government to the Land Acquisition Act of 2013. Naidu informed the members that an investment of about Rs.3 lakh crore is required to meet the housing shortage in urban areas and the new Housing for All scheme has been formulated to create an enabling environment based on the experiences of implementation of earlier housing schemes. He said the Housing Mission has four components viz., Slum Redevelopment, Affordable Housing through Credit Linked Subsidy, Affordable Housing in Partnership and Subsidy for Beneficiary-led individual house construction/enhancement.