Hardeep Singh Puri says govt will unveil details of new home loan scheme for city dwellers next month

The scheme is intended to complement the existing home loan provisions and comes as a response to the pressing housing needs of urban populations.

Highlighting the significance of the scheme, PM Modi stated, “The weaker sections living in the cities face a lot of problems. Middle-class families are dreaming of buying their own houses. We are coming up with a new scheme in the coming years that will benefit those families who live in cities but are living in rented houses, slums, chawls, and unauthorised colonies. If they want to build their own houses, we will assist them with relief in interest rates and loans from banks that will help them save lakhs of rupees.”

As the countdown to the General Election 2024 begins, the government is reportedly contemplating additional expenditures geared towards uplifting public sentiment. While these potential fiscal injections are yet to be outlined in detail, they mirror the government's intent to enhance the overall well-being of citizens. Read more on this here.

Puri also said that India was aiming to become the second-largest metro system in the world and was confident of meeting the 2024 timeline for completing the smart city programme. "Work is currently on on fixing last-mile connectivity," he said, and added, "Distribution of sops by some states will not work, what will work is what the commuter wants, like last-mile connectivity."