Role of housing for all scheme in economic development
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The centre’s plan to provide housing for all urban poor is likely to require an investment of ₹ 12-13 trillion in the next seven years, with the cost to the exchequer estimated at ₹ 3 trillion. This could help accelerate economic growth, given the multiplier potential of construction.
The “Housing for all by 2022" programme, approved on Wednesday by the cabinet, is aimed at providing housing to 20 million people. It will help generate jobs and increase demand for raw materials used in construction, providing a major fillip to the economy, according to economists and executives in the real estate sector.
The scheme, to be rolled out in three phases, will mainly focus on rehabilitation of slum dwellers, providing affordable housing to the weaker section through credit-linked subsidy and affordable housing via a partnership model between the public and private sectors.
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