New Delhi: Finance Minister Nirmala Sitharman on Thursday announced a Rs 70,000-crore boost to housing sector by extending the subsidy scheme for affordable housing for the middle income group.
The credit-linked subsidy scheme for the middle income group with an annual income of Rs 6 lakh to Rs 18 lakh was operationalised from May 2017 and extended up to March 2020 through a credit lined subsidy scheme (CLSS).
The scheme was launched in 2017 and was extended till March 2020. So far more than 3.3 lakh families have benefitted from the scheme.
Now the government has extended the scheme to March 2021.
2.5 lakh additional families will benefit from the scheme and it will boost the demand for steel, cement, transport and other construction material.
She also announced a Rs 5,000-crore special credit facility for street vendors by providing them with working capital of up to Rs 10,000, she said adding this would support 50 lakh street vendors.
