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- The government launched the “Housing For All by 2022” programme in 2015, with the Pradhan Mantri Awas Yojana (Pmay) as a key anchor scheme ________.
Question 1:
The government launched the “Housing For All by 2022” programme in 2015, with the Pradhan Mantri Awas Yojana (Pmay) as a key anchor scheme ________. Global examples indicate that affordable housing activities generate direct and indirect employment in the medium term and sustained consumption in the long term. A 2014 study by the National Council of Applied Economic Research indicates that every additional rupee of capital invested in the housing sector adds Rs1.54 to the gross domestic product (GDP) and every Rs1 lakh invested in residential housing creates 2.69 new jobs in the economy. A. Pmay envisages building 20 million urban units by 2022.
B. On the demand side, while overall economic growth will create the right enablers to stimulate demand, loans need to be provided at affordable rates.
C. By building a strong support system and hand-holding the real estate entrepreneurs, we could create an ecosystem of quality developers.
D. The lending institutions and credit rating agencies need to design new frameworks/rating scales that benchmark companies on such new capabilities.
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