An interest subsidy scheme launched in 2017 by the government to help middle class families in search for affordable housing has been extended to March 31, 2021.
The Finance Minister backed this up by saying that this will provide a boost of Rs. 70,000 crore to the housing and constructions sector amid such economic crisis in the middle of a pandemic – coronavirus outbreak.
The scheme that was launched 3 years ago had expired in March this year and hence, an extended scheme plan was necessary to be implemented. It had helped 3.3 lakh middle class families and will benefit an estimated at least 2.5 lakh more by the 12 months extension.