Union Budget 2018: Arun Jaitley proposes setting up affordable housing fund

Arun Jaitley also said that 37 lakh homes will be built in urban areas in 2018-19 and 51 lakh homes in rural areas.

In line with the government’s aim to provide housing for all by 2022, the Union Budget on Thursday proposed to set up an affordable housing fund in the National Housing Bank (NHB).

The 2017 budget had proposed to assign infrastructure status to affordable housing projects . (Rahul Raut/HT File Photo)

The 2017 budget had proposed to assign infrastructure status to affordable housing projects and facilitate higher investments.

“…My government will also establish a dedicated affordable housing fund in the national housing bank funded from priority sector lending shortfall and fully serviced bond authorised by the government of India,” finance minister Arun Jaitley said.

With the larger objective continuing to be to boost the supply of rural housing and augmenting affordable housing in urban areas, Jaitley added that 37 lakh homes will be built in urban areas in 2018-19 and 51 lakh homes in rural areas.

(Published in arrangement with Livemint)