Credit –cum-subsidy Scheme
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The assistance for credit-cum-subsidy scheme is Rs.12,500/- per unit.
As a part of Indira Awaas Yojana, this Ministry is implementing
since 1999-2000 the Credit-cum-Subsidy Scheme for rural housing
in which credit upto Rs.50,000/- and subsidy upto Rs. 12,500 is
provided to rural households having an annual income upto Rs.
32,000/- for house construction. The credit component of the scheme
is being disbursed by various housing financing institutions and
through scheduled commercial banks. The subsidy component is borne
by the Centre and the States jointly. As per IAY guidelines ,
funds upto 20% of the total funds can be utilized for upgradation
of unserviceable kutcha houses into pucca/semi-pucca houses and,
or, for providing subsidy to the beneficiary availing loan under
the credit-cum-subsidy scheme. From the year 2002-03 onwards no
separate allocation and target are made to the Credit-cum-Subsidy
Scheme and option is given to the States/Districts to utilize
the funds under the Scheme from IAY.
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Contents provided and maintained by Department of Rural Development, Ministry of Rural Development, Govt. of India. |