EPFO to provide 10 lakh homes in next two years, labour minister Dattatreya says | business-news | Hindustan Times
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EPFO to provide 10 lakh homes in next two years, labour minister Dattatreya says

The decision has been taken in order to give a fillip to the Prime Minister Narendra Modi’s vision of home for all in 2022.

business Updated: Apr 29, 2017 17:23 IST
(HT photo)

The Empoyees’ Provident Fund Organisation (EPFO) will join hands with the Urban Development Ministry to build 10 lakh homes in next two years, said Union Labour Minister Bandaru Dattatreya on Saturday.

He said this decision has been taken in order to give a fillip to the Prime Minister Narendra Modi’s vision of home for all in 2022.

Talking to ANI here, Dattatreya said, “We have started Group Insurance Housing Scheme to give EPFO subscribers homes in phased manner. The EPFO will build 10 lakh homes in next two years with the help of Urban Development Ministry.”

He urged the state governments to provide land for this purpose wherever it is needed.

He also said that discussion will be held with Ministry of Urban Development for providing Rs 2.2 lakh as interest subsidy to the beneficiaries of Economic Weaker Section (EWS) scheme.

“Similarly in EPFO, the middle income group and lower income group subscribers will get 3% interest subsidy on loan amount from Rs 6 lakh to 12 lakh, and 4% interest subsidy on loan amount up to Rs 18 lakh,” said the Union Minister.