Union Cabinet approved National Urban Housing Fund (NUHF)

  • The Union Cabinet chaired by the Prime Minister Shri Narendra Modi on 20 February 2018, gave approval for creation of National Urban Housing Fund (NUHF) for Rs.60,000 crores.
  • This fund will be situated in Building Materials and Technology Promotion Council (BMTPC), an autonomous body registered under the Societies Registration Act, 1860 under the Ministry of Housing and Urban Affairs.
  • The Ministry has so far sanctioned 39.4 lakh houses under Pradhan Mantri Awas Yojana (Urban).
  • Nearly 2- 3 lakh houses are being sanctioned every month. More than 17 lakh houses have been grounded and about 5 lakh houses have been completed.
  • Under Credit Linked Subsidy Scheme (CLSS), wherein housing for EWS / LIG / MIG beneficiaries is being sanctioned by the Banks / HFCs to the eligible beneficiaries under the PMAY(Urban), the responses have grown significantly.
  • The target is to cater to the demand of housing shortage of nearly 1.2 crore and make available housing to all by 2022, when the Country celebrates its 75th Anniversary of Independence.
  • NUHF will facilitate raising requisite funds in next four years so that flow of Central Assistance under different verticals i.e. Beneficiary Linked Construction (BLC), Affordable Housing in Partnership(AHP), In-Situ Slum Redevelopment (ISSR) and Credit Linked Subsidy Scheme (CLSS) is sustained and construction of houses to address the gap in Urban Sector progresses smoothly.

About  Pradhan Mantri Awas Yojana (PMAY)

  • The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi on 17 June 2015, has given its approval for launch of “Housing for All by 2022” aimed for urban areas with following components/options to States/Union Territories and cities:- 
    • Slum rehabilitation of Slum Dwellers with participation of private developers using land as a resource; 
    • Promotion of affordable housing for weaker section through credit linked subsidy; 
    • Affordable housing in partnership with Public & Private sectors and 
    • Subsidy for beneficiary-led individual house construction or enhancement. 
  • Prime Minister Shri Narendra Modi on 20 November 2016, formally launched “Housing for All” in rural areas under which the Government proposes to provide an environmentally safe and secure pucca house to every rural household by 2022. Named the Pradhan Mantri Awaas Yojana (Gramin), in its first phase the target is to complete one crore houses by March 2019. 
  • Prime Minister had launched Pradhan Mantri Awas Yojana (Gramin) on 20th November, 2016 from Agra.  A target of completing one crore new houses by 31st March, 2019 was set. Of these, 51 lakh houses are to be completed by 31st March, 2018.

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