Arun Jaitley said that 3.7 million homes will be built in urban areas in 2018-19 and 5.1 million homes in rural areas. Photo: Abhijit Bhatlekar/MintBengaluru/Mumbai: In line with the government’s aim to provide housing for all by 2022, the Union Budget on Thursday proposed to set up an affordable housing fund under the National Housing Bank (NHB). The 2017 budget had proposed to assign infrastructure status to affordable housing projects and facilitate higher investments. “My government will also establish a dedicated affordable housing fund in the National Housing Bank funded from priority sector lending shortfall and fully serviced bond authorised by the government of India,” finance minister Arun Jaitley said, while presenting the Union budget in Parliament. With the objective of boosting the supply of rural housing and augmenting the supply of affordable housing in urban areas, Jaitley said that 3.7 million homes will be built in urban areas in 2018-19 and 5.1 million homes in rural areas.

Source: Mint February 01, 2018 08:26 UTC