Home » Social Justice » Issues related to Urban Development » Affordable housing in Urban India » Government initiatives undertaken so far for affordable housing:
- The Government and the Reserve Bank of India (RBI) have taken numerous measures to give a boost to this sector over the past few years.
- PMAY (Gramin), which comes under the ambit of the Ministry of Rural Development and
- PMAY (Urban), which falls under the Ministry of Housing and Urban Affairs
- The government is targeting completing 11.2 million houses by 2022 under PMAY- U. Against this target, currently 4.8 million houses have been completed and around eight million houses are under various stages of construction.
- Affordable housing is also included under RBI’s priority sector lending programme.
- CLSS (Credit Linked Subsidy Scheme) for affordable home buyers, the government has also announced various measures to improve the supply of affordable housing.
- The Model Tenancy Act 2021 is a step in the right direction as it endeavours to correct some of the imbalances in the rental market, while also proposing a redress mechanism that should enable creation of a more matured rental market in India.
