Role of Government of India in Housing finance

Abstract

Indian Government was involved in housing programs started long and it began with providing residence to the employees of Government only in cities, in view of the acute shortage of housing in metropolitan cities. Although Indian constitution has not mentioned specifically the role of government in housing, so the Planning Commission indicated the roles of the central and state governments in housing development from time to time.  For this purpose both the governments engaged in making various policies suitable to the people in India. The role of Central Government is to act as a facilitator' and 'enabler and to create a suitable fiscal concessions in alliance with Ministry of Finance for the promotion of housing finance in urban with special focus on EWS/LIG beneficiaries, while the role of State Government is to act as a facilitator and enabler in alliance with ULBs /Private Sector/ Co-operative Sector/ NGOs with regard to Integrated Slum Development Projects as well as integrated Township Development Projects. Indian Government has achieved several milestones in the period of 2002 to 2012 by accordance of the industrial concern status under IDBI Act, to Construction industry and implementation of national Human Resource Development programs in the non-formal sector, including the worker' level to the upper levels of engineering and management practices. Recently, the Government of India has adopted the policy of Housing for all and accordingly formulated “Pradhan Mantri Awas Yojana” under a flagship mission of honorable Prime Minister Shri Narendra Modi.