Bank financing- Must for the urban poor for the housing projects
’Acche Din Aane wale hain’’ was the tagline of BJP’s election campaigns and it included a lot of promises for creating facilities for the poor. Housing for all too was the most prominent mantra and Union Urban Development, Housing & Urban Poverty Alleviation Minister M. Venkaiah Naidu believes that it is possible only if the banks finance for housing for the poor in urban areas.
The ministry feels that if the jurisdiction of NABARD (National Bank for Agriculture and Rural Development) or SIDBI (Small Industries Development Bank of India) is increased and the urban areas too are included in them, then this issue can be resolved.
The minister has directed for formulation of new schemes for slum redevelopment and affordable housing for the urban poor. Naidu feels that there is a need to create an apex bank to monitor the financing in urban areas.
Naidu also feels that these schemes must be simple in conception and should actively involve various stakeholders including State Governments, Urban Local-Bodies, Civil Society/NGOs as well as banks and financial institutions.
The minister also feels that the private partners should be involved these projects to increase managerial and financial efficiency and the execution of the projects will be faster if the road blocks are removed for the private players and they are allowed to work seamlessly.
Source- The Hindu Business Line
Affordable housing projects, affordable housing projects in India, Housing projects, low budget housing projects, Realty housing projects
