Housing scheme for poor to get more funds

New Delhi, Jan 10 (IANS) The central government Thursday enhanced the allocation under its flagship rural housing scheme Indira Awas Yojana (IAY) from Rs.45,000 to Rs.70,000, Finance Minister P. Chidambaram said.

"The cabinet enhanced the allocation under IAY from Rs.45,000 to Rs.70,000 in plains areas and from Rs.48,500 to Rs.75,000 in hill areas," Chidambaram told reporters after a cabinet meeting.

He said the money given to the poor people to buy land has also been enhanced from Rs.10,000 to Rs.20,000.

The states have been asked to furnish list of IAY beneficiaries to the banks so that the poor people may get a loan of Rs.20,000 at 4 per cent interest to construct their dwelling units, he said.


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