Government release RS 25,000 crore alternate fund for Stopped Housing projects: Nirmala Sitharaman
Himachal Pradesh: With the motive of boosting the economy and also Houses to the public, Government of India on Wednesday announced and cabinet also approved a RS 25000 crore funds to stuck housing projects and the fund will be provided to only net worth positive projects as said by Finance minister Nirmala Sithraman.
More than 1600 projects will be covered and in this project, the Government will contribute Rs 10,000 crore and the other 15,000 crores will be contributed by LIC and State Bank of India.
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FM Nirmal Sithraman Also said that those projects which have been declared as NPAs by banks and those who are near Bankruptcy but not refereed to liquidation will also we under this scheme and also get the benefit of this initiative and also the main basic condition of eligibility is that house must cost less than
- RS 2 Cr in Mumbai.
- Rs 1.5 Cr in Delhi- NCR.
- Rs 1 Cr in the Rest of the Indian States.
Nirmala Sithraman said that this initiative will have a positive effect on the Indian Economy and also will add job creation as well as cement, steel and other material demand will be Increased which will overall help the Indian Economy.
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