Rural Housing Fund gets RS.2000 Crore allocation

The Finance Minister Shri Pranab Mukherjee in his Budget Speech in the Lok Sabha today said that the allocation for the Bharat Nirman programme of six schemes for the development of rural infrastructure is being stepped up by 45% in 2009-10 over the BE of 2008-09. This programme is an important initiative for bridging the gap between the rural and urban areas and improving the quality of life of people particularly the poor in the rural areas, he added.

The Minister said that the allocation for the Pradhanmantri Gram Sadak Yojana (PMGSY) is proposed to be increased to Rs.12,000 crore, for the Rajiv Gandhi Grameen Viduytikaran Yojana (RGGVY) to Rs. 7,000 crore and for the Indira Awas Yojana (IAY) to Rs.8,800 crore.

The Minister also announced that a sum of Rs.2000 crore is proposed to be allocated for Rural Housing Fund in the National Housing Bank (NHB) from the shortfall in the priority sector lending of commercial banks. This will boost the resource base of NHB for their re-finance operations in rural housing sector. The move will broaden the pace of rural housing.

Source : Equity Bulls

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