Income criteria revised for housing scheme beneficiaries

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Income criteria revised for housing scheme beneficiaries

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New Delhi, Nov 14 (IANS) The government Wednesday revised upwards its income criteria for defining beneficiaries under its housing scheme, categorizing as "economically weaker" those earning up to Rs.1 lakh a year and lower income group those earning between Rs.1 lakh to Rs.2 lakh.

Union Minister of Housing and Urban Poverty Alleviation Ajay Maken announced this after inaugurating the HUDCO Pavilion at IITF-2012 here.

The minister said the previous income criteria for selecting beneficiaries were fixed in 2010 at Rs.60,000 a year for EWS, and Rs.60,000-Rs.1,20,000 a year for LIG.

The revised income criteria has been approved based on the income, expenditure and cost of housing criteria, he said.

Maken said the housing shortfall stood at an estimated 18.78 million units at the beginning of the 12th Five Year Plan.

"Affordable Housing for All" is a key policy agenda of the government.

"One of the modes of delivery of this objective is through channelization of credit to meet the housing shortage among the urban poor. For this purpose, there is a need to periodically review and re-fix income ceiling levels for Economically Weaker Sections (EWS)/ Low Income Group (LIG) that would be relevant and contemporary," he said.

HUDCO has showcased cost effective, innovative and environment friendly housing technology at the Trade Fair.

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Source  news.taaza.com

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