The government in May 2017 introduced a Credit Linked Subsidy Scheme (CLSS) to encourage the lower middle income (LMI) and economically weaker sections (EWS) to buy a house of their own by taking a loan.
The scheme was originally propounded under the Pradhan Mantri Awas Yojana (PMAY) under the aegis of the Ministry of Housing and Urban Poverty Alleviation (MoHUPA).
The scheme had ended on 31 March this year but its tenure was extended till 31 March next year as part of the government’s Rs20 trillion financial stimulus package to restore the health of the covid-19-struck economy.
The government has pegged the stumulus under the extendedscheme to be Rs3 trillion. The scheme allows home loan borrowers to avail interest-subsidy of up to