The government is currently finalizing specifics of its scheme to subvention interest and is expected to launch it in the near future, housing, and Urban Affairs Minister Hardeep Singh Puri announced on September 29.

“We are nearing the end of finalising the details of the details of a house subvention scheme. The Prime Minister has declared, it is a huge scheme, it will provide an interest subsidy in some form. We’ll come up with the details of the scheme shortly,” he told reporters.

India is reportedly looking to spend 600 billion rupees ($7.2 billion) in subsidized loans for small-scale urban homes in 5 years in the future, a report from Reuters stated. Banks could start the program in the next few months, in advance of crucial state elections in the coming year and general elections scheduled in mid-2024, as the report said.

In their Independence Day speech, Prime Minister Narendra Modi announced the program for middle-class families who live in rented homes such as tenements, chawls, or tenements. Urban colonies that are illegal.

“The poorer segments of the population living in cities have many challenges. Families of middle-class are dreaming about purchasing their own homes. We are planning an innovative scheme over the near future that will help families who live in cities, but live in rental houses, slums colony colonies that are not authorised. If they decide to construct their own homes they will be assisted by easing the interest rate and loans from banks that can aid them in saving thousands of rupees.” Modi had said.

 

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The housing ministry has been in the process of implementing an initiative called the Pradhan Mantri Awas Yojana or PMAY (Urban) that was introduced in the year 2015. Three of the four verticals of the scheme–beneficiary-led construction, affordable housing in partnership, and in-situ slum redevelopment–have been extended till December 31, 2024. The fourth vertical–credit-linked subsidy scheme–under which beneficiaries were given an interest subsidy on home loans–was not extended beyond March 31, 2022.

The ministry says that approximately 1.18 million houses were approved under PMAY(Urban) until July 31, and of these, 76.02 lakh were handed over to the benefit recipients.

Puri stated on September 29 that more than 6.4 lakh sites had been implemented across the country as part of a national clean-up campaign on October 1 in response to the Prime Minister’s request to “one hour of shramdaan for swachhata.”

The government’s scheme has evolved into a “people’s movement,” Puri stated.

He stated that the mega drive would clean the areas that are prone to garbage railway tracks and airports, as well as surrounding areas, water bodies, ghats markets, slums, spots of worship, tourist destinations, and other places.

Puri explained that to help assist in the Swachhata celebrations, towns, urban local bodies, gram panchayats, as well as diverse departments have added events to “Swachhata shramdaan” on the Swachhata Hi Seva citizens portal. Market associations, NGOs Self Help Groups (SHGs), as well as faith groups, trade organizations, and private sector organizations, have joined forces to conduct shramdaan at 22,000 markets, 10,000 water bodies, almost 7,000 bus stops/toll plazas, more than 1,000 gaushalas and nearly 300 wildlife and zoos as well as other locations where there will be massive clean-up drives in both urban and rural India.

Puri stated that, in a first of this kind, the army and navy, as well as the air force, will come together with citizens to take care of garbage-vulnerable areas, railway tracks, historic buildings, step-wells, and forts.

The HUA ministry announced that, of all the states, Uttar Pradesh has adopted more than one lakh locations to conduct cleanliness drives. Maharashtra will be running clean-up drives at more than 62,000 places, with residents participating in shramdaan activities at beaches, places of worship or schools, colleges, or water bodies, among other places.

The ministry pointed out that numerous organizations have stepped forward to clean up monuments, museums, and forts throughout the country. Organizations such as FICCI, CII, and CREDAI and NGOs such as Sri Sathya Sai Loka Seva, Lions Club, Rotary Club, UNICEF, Aga Khan Foundation, and many more. Will participate in the event beginning on October 1.