Government’s housing scheme can boost GDP by Rs 15 lakh crore

News:

• Centre’s housing for all project is expected to give the economy a Rs 15-trillion boost over the next 7 years, but its success will depend on ramping up existing urban infrastructure.
• The plan is expected to increase employment opportunities and help grow the services sector and the economic impact will be felt at state level.
• Funding the sizeable investment through public-private partnerships and ramping up the supply of raw materials for construction, namely steel and cement, were cited as ‘big challenges’ for the execution of the scheme.
• The Modi Government’s ambitious scheme, aimed at providing 20 million houses in three phases over FY16-FY22, has a Central grant component going to the states, while and Central assistance is likely to go directly to households.

Source: ET