New Delhi:(Page3 News Network)-The Government proposes to introduce new scheme for financing low income
groups to purchase/construct new dwelling units. The Ministry of
Housing & Urban Poverty Alleviation (HUPA) proposes to revise the
existing pilot scheme of Interest Subsidy Scheme for Housing the Urban
Poor (ISHUP) and relaunch the same as Rajiv Rinn Yojana (RRY) with
larger coverage and outreach along with larger corpus of funds allocated
for the scheme. Under RRY it is proposed to provide interest subsidy of
5% on loans upto Rs. 5.00 lakh for Economically Weaker Sections (EWS)
and Low Income Groups (LIG) beneficiaries as announced by Hon’ble Prime
Minister during the Independence Day Celebration 2012. This was stated
by Shri Ajay Maken, Union Minister of Housing & Urban Poverty
Alleviation (HUPA), in the Lok Sabha today, in a written reply to a
question by Shri Saugata Roy. The Minister further stated that since the necessary approvals are awaited , no time frame can be given at this juncture.
