Credit link subsidy scheme on home loans extended

The Centre has extended the Credit Link Subsidy Scheme (CLSS) on home loans for the Middle Income Group (MIG) under the Pradhan Mantri Awas Yojana (Urban) till March 2020.

I have signed the file pertaining to the extension of the CLSS under which the government provides a subsidy of up to Rs 2.67 lakh on home loans, Union Housing and Urban Affairs Minister Hardeep Singh Puri said on Monday.

The last extension was up to March 31, 2019.

Till December 30 this year, around 3,39,713 beneficiaries have availed the CLSS under the PMAY (Urban), the minister said.

Under the CLSS, the MIG beneficiaries with an annual income of above Rs 6 lakh and up to Rs 12 lakh would get an interest subsidy of 4% on a 20-year loan component of Rs 9 lakh.

Those with an annual income exceeding Rs 12 lakh and up to Rs 18 lakh would get interest subsidy of 3%.

Investment for Smart Cities

Under the Smart Cities Scheme, tender has been awarded up to Rs one-lakh worth various projects as on Monday and in which Rs 57,870 works are going on and Rs 10,767-crores worth projects completed.

In 2019, works for the smart cities will expedite as large number of projects would start its execution, he said.

Of the total Rs one-lakh-crore works project tendered, around Rs 20,000-crores worth are under Public-Private Partnership.

He said that so far six cities— Pune, Hyderbad, Bhopal, Indore, Amarvathi and Vishakapatnam— have raised money from the market to take up development under the Smart Cities Scheme.

The Smart Cities Project is a flagship programme of the NDA government and 100 cities across the country were selected for the improvement of urban infrastructure of the nation.