12,080.85-45.05
Stock Analysis, IPO, Mutual Funds, Bonds & More

Housing for all: Labour ministry ups subsidy, eases norms for beedi, mine workers

This revision seeks to meet the needs of large families and the rising cost of construction coupled with rising aspiration of working population.

, ET Bureau|
Last Updated: Jul 06, 2016, 12.46 PM IST
0Comments
This revision seeks to meet the needs of large families and the rising cost of construction coupled with rising aspiration of working population.
This revision seeks to meet the needs of large families and the rising cost of construction coupled with rising aspiration of working population.
Tax Calculator
In line with Prime Minister Narendra Modi’s vision of Housing for All, labour ministry has raised the subsidy amount as well as relaxed norms to enable beedi and mine workers build houses under the ministry’s integrated housing scheme.

“For the new housing units, the subsidy shall be Rs 1.5 lakh and the revised rate shall be applicable from March 2, bringing it at par with financial package extended under the beneficiary-led individual house construction of enhancement scheme under the Pradhan Mantri Awas Yojana,” a notification said.

“The amount of subsidy shall be released in 25:60:15 slab, the beneficiary shall not be required to make any deposit as prerequisite of release, there shall be no ceiling on the estimated cost of the dwelling unit and no upper ceiling on the carpet area of constructed house,” it said.

Under the existing scheme, central assistance of Rs 40,000 is released for construction of new house in two equal instalments. However, the beneficiary was required to have his/her own land for such construction.

According to the notification, this revision in the housing scheme was required to meet the needs of large families and the rising cost of construction coupled with rising aspiration of working population.

“Besides, the government has decided to align all cess-fund supported schemes with the ongoing schemes in order to maintain a common benchmark and also to use the direct benefit transfer route for extending financial benefits and services,” the notifictaion added.

Also Read

Labour ministry drops the plan to corporatise EPFO

Labour Ministry mulls 'Santusht' portal in Jan for speedy resolution of grievances

Labour Ministry moots social security fund linked to CSR norms

Labour ministry to rejig draft social security code

Labour ministry proposes revised social security code

Comments
Add Your Comments
Commenting feature is disabled in your country/region.

Other useful Links


Copyright © 2020 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service