Govt’s housing scheme can give Rs 15 tn boost to GDP: Report

Low-cost Housing1The Centre’s Housing for All project is expected to give the economy a Rs 15-trillion boost over the next 7 years, a report released by India Ratings said.

According to report, the success of the project will depend on ramping up existing urban infrastructure, fast tracking approval process and targeting the actual beneficiary.

The project is expected to increase employment opportunities. It would also help grow the services sector, the report says.

“Housing for All by 2022’ Mission has the following components/options to States/Union Territories and cities:-

a) Slum rehabilitation of Slum Dwellers with participation of private developers using land as a resource;

b) Promotion of affordable housing for weaker section through credit linked subsidy;

c) Affordable housing in partnership with Public & Private sectors and

d) Subsidy for beneficiary-led individual house construction or enhancement.

Prime Minister Narendra Modi called for a holistic approach towards meeting the target of the mission.

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