Budget proposes interest subsidy scheme to facilitate loans for urban housing segment

The government on Tuesday proposed a central assistance of Rs 2.2 lakh crore for urban housing over the next five years as well as an interest subsidy scheme to facilitate loans at affordable rates for urban housing works.

The announcements were made by Finance Minister Nirmala Sitharaman in the Union Budget 2024-25.

She also said the government will put in place measures for an efficient and transparent rental housing market with enhanced availability.

Among others, the minister has proposed transit-oriented development plans for large cities having a population of over 30 lakh and a scheme to support the development of 100 weekly haats in five years.

Also, the government will develop digital public infra applications in seven areas, including those related to credit and MSME service delivery.