New Delhi, May 14 -- The government on Thursday extended till March 2021 the benefit of interest subsidy on home loans under the Credit Linked Subsidy Scheme (CLSS) for households that fall in the middle-income group (MIG) with annual incomes between Rs.6 lakh and Rs.18 lakh. The scheme was introduced in May 2017 and ended on 31 March 2020.

While announcing the extension at a press conference, finance minister Nirmala Sitharaman said the scheme has benefited 330,000 middle-class families so far and is expected to benefit another 250,000 families in FY21. According to government estimates, the subsidy scheme will give a Rs.70,000 crore boost to the housing sector. Besides creating jobs, it will also stimulate demand for steel, cement, tra...