More than 1,65,000 people have availed the Credit Linked Subsidy Scheme (CLSS) vertical of the Pradhan Mantri Awas Yojana (Urban) during 2015-18 compared to only 18,166 people who benefitted from the interest subsidy scheme that existed during 2008-2013, the housing and urban affairs ministry said. Adequate funding has been ensured for the CLSS vertical of the housing mission as Rs 31,505 crore has been provided for the mission (Rs 6,505 crore from budgetary sources and Rs 25,000 crore from Extra Budgetary Resources(EBR)) with a provision for additional funding beyond the Rs 25,000 crore under EBR during this financial year, it said.
The funds through EBR would be drawn in phases, as per requirement, throughout the financial year and a mechanism has been devised to optimally utilise the funds under the mission, the release said. While Rs 1,900 crore had been allotted for the CLSS vertical for the current year, more funds are permitted to be drawn from the earmarked Rs 25,000 crore under EBR, based on requirement.
“This flexibility has also ensured that there is no dearth of funds for this important mission. The mission has conceived a focussed strategy to build upon the work that has been done on the CLSS vertical and plans to increase the number of beneficiaries that benefit from this vertical substantially this year,” it said. The CLSS is aimed at benefiting people belonging to the economically weaker section (EWS), low-income group (LIG), middle-income group-I (MIG-I), and middle-income group-II (MIG-II) by providing interest subsidy on the purchase or construction of a house.
