Pradhan Mantri Awas Yojana

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Pradhan Mantri Awas Yojana

• - Credit Linked Subsidy Scheme

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What is Pradhan Mantri Awas Yojana?

• Pradhan Mantri Awas Yojana Scheme comes with
  credit linked subsidy scheme(CLSS) which allows
  every house constructed, improved, build,
  purchased or even expanded under this scheme will
  be given an interest subsidy. With the increase
  in subsidized loan amount to ?12 lakh, the scheme
  is expected to cover a higher proportion of the
  urban poor.
• Under this scheme, the government will be
  financially assisting the Economically Weaker
  Section (EWS), Low Income Group (LIG) and Middle
  Income Group (MIG) in order to achieve its
  primary aim at providing home for all.

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Benefits of Credit Linked Subsidy Scheme

• The Credit Linked Subsidy Scheme (CLSS) is a
  benefit under the Pradhan Mantri Awas Yojana
  which focuses on helping the Middle Income
  Groups, Economically Weaker Sections, and Lower
  Income Groups in India by bringing down their
  housing loan EMIs by over Rs.2,000 per month by
  offering an interest subsidy.
• The beneficiaries under Economically Weaker
  Sections can have annual income up to Rs.3 lakh.
  Also, beneficiaries with an annual income of Rs.3
  lakh to Rs.6 lakh fall under the Low Income Group
  category.
• Women, Scheduled Tribes, Scheduled Castes,
  backward classes, minorities, people with
  disabilities, and transgenders will also be able
  to make use of this scheme as they will be given
  preference.
• Both sets of beneficiaries can get the maximum
  tenure of loan can go up to 20 years and the
  discount rate for Net Present Value(NPV) is 9
  for both MIG-I and MIG-II.

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Targeted Group or Benefeciary

• Indian Women of all religions and castes.
• People with low income and economically weaker
  sections.
• SC (Scheduled Castes)
• ST (Scheduled Tribes)

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