Government of India Initiatives & Interventions Pradhan M | CSE MAINS BOOSTER
Government of India Initiatives & Interventions
Pradhan Mantri Awas Yojana (PMAY- 2015): To address the shortcomings of the erstwhile programs and to evolve an all-encompassing scheme.
External Commercial Borrowing (ECB) has been allowed for affordable housing projects from 2012 to enable lower interest cost for developers.
Opening up of Foreign Direct Investment (FDI) for development of townships, housing, built-up infrastructure and construction-development.
The Credit Risk Guarantee Fund with a corpus of Rs 1200 Cr in collaboration with NHB was set up (2012) to facilitate credit availability to low income customers without any collateral.
Tax free bonds are issued by HUDCO and NHB to ensure lower cost of borrowing by them and in turn reduce their onward lending costs.
Real Estate Regulatory Authority (RERA): It will infuse fresh buyer interest in the sector via facilitating joint development agreements with revenue share, increased land transactions with distressed asset owners selling land parcels to larger developers, timely delivery of projects, etc.
Efforts in increasing the ease of doing business especially in obtaining construction permits in urban areas has been stepped up.
6 Public Private Partnership options developed for development of Affordable housing on Government land.
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