By Accommodation Times Bureau
The Credit Linked Subsidy Scheme (CLSS) Vertical has shown progressive performance with over 1,65,000 beneficiaries benefitting from this Scheme during 2015-18. This is a huge jump in the number of beneficiaries from the earlier comparable interest subsidy scheme between 2008-2013 which was only 18,166, said Ministry of Housing and Urban Affairs in a press release.
Adequate funding has been ensured for the CLSS Vertical of the Mission as Rs. 31,505 crores has been provided for the Mission (Rs.6505 crore from budgetary sources and Rs. 25,000 crores from Extra Budgetary Resources(EBR)) with a provision for additional funding beyond the Rs. 25,000 crore under EBR during this financial year, said release.
The funds through EBR would be drawn in phases, as per requirement, throughout the financial year. A mechanism has been devised to optimally utilise the funds under the mission.
While the budget for the current year had allocated Rs 1,900 crores for the CLSS vertical, there is flexibility provided to draw more funds based on the requirement from the earmarked Rs. 25,000 crores under EBR.
With regards to the progress of the mission, during the last 3 years (from Mission launch in June’15 till May’18), 47.5 Lakhs dwelling units have been approved for construction. This is a huge jump when seen in the light of a comparable scheme earlier where only 12.4 Lakh houses were approved in a period of about 10 years. Further, about 27 Lakh houses have already been grounded and are in various stages of completion with over 8 lakh houses having been already completed during the period.
The States/ UTs through their State Level Nodal Agencies are getting the works done on an ongoing basis. With the pace of progress of PMAY-U, it is expected that the housing shortage will be addressed in full measure.