Pradhan Mantri Awas Yojana –Credit Linked Subsidy Scheme For MIG

New Delhi : ‘Land’ and ‘Colonization’ are State subjects. Therefore, schemes related to housing for their citizens are implemented by States/Union Territories (UTs). However, Ministry of Housing and Urban Affairs supplements the efforts of States/UTs by providing Central assistance under Pradhan Mantri Awas Yojana- Urban (PMAY-U) since 25.06.2015 with an aim to provide all weather pucca houses with basic civic amenities to all eligible urban beneficiaries across the country. The scheme is implemented through four verticals, i.e. Beneficiary-led construction/ enhancement (BLC), Affordable Housing in Partnership (AHP), ‘In-situ’ Slum Redevelopment (ISSR) and Credit Linked Subsidy Scheme (CLSS) to provide financial assistance for addressing the housing requirement of eligible beneficiaries of Economically Weaker Section (EWS) / Low Income Group (LIG), as per scheme guidelines, in urban areas. For implementation of CLSS vertical of PMAY-U Mission, Ministry identified three Central Nodal Agencies (CNAs), i.e. National Housing Bank (NHB), Housing and Urban Development Corporation Ltd. (HUDCO) and State Bank of India (SBI) to channelize the subsidy to the Primary Lending Institutions (PLIs).

Scope of Credit Linked Subsidy Scheme (CLSS) under PMAY-U was extended to include Middle Income Group (MIG) with effect from 01.01.2017 initially for one year and was extended up to 31.03.2021. No funds are being released under CLSS for MIG from Ministry to any of the CNAs after 31.03.2021. CLSS vertical for EWS/LIG was up to 31.03.2022. Under CLSS, 25.04 lakh beneficiaries including 6.08 lakh from MIG category have, availed benefits of interest subsidy amounting to ₹58,868 crore.