How does housing subsidy benefit you?
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New Delhi, May 18 -- If you were planning to buy a house but held back in view of the ongoing covid-19 crisis, the government is willing to give a helping hand. At a press conference held last week, finance minister Nirmala Sitharaman announced the extension of the government's housing subsidy scheme for households that fall under the middle-income group (MIG).
The government has decided to extend the benefit of interest rate subsidy on home loans under the Credit Linked Subsidy Scheme (CLSS) for households with annual incomes between Rs.6 lakh and Rs.18 lakh till 31 March 2021. The scheme was introduced in May 2017 and ended on 31 March 2020.
According to the government estimates, the subsidy scheme will give a Rs.70,000 crore boost to...
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