Thursday, July 10, 2014

Housing for All by 2022

Government is committed to endeavour to have housing for all by 2022 by extending additional tax incentive on home loans to encourage people, especially the young, to own houses. It has proposed to set up a Mission on Low Cost Affordable Housing to be anchored in the National Housing Bank. The Finance Minister Shri Arun Jaitley informed the Lok Sabha while presenting the General Budget 2014-15 that a sum of Rs 4,000 crore has been earmarked for National Housing Bank with a view to increase the flow of cheaper credit for affordable housing to the urban poor/EWS/LIG segment. He added that Government has already outlined some other incentives such as easier flow of FDI in this sector and is willing to examine other positive suggestions. He also informed the inclusion of slum development in the list of Corporate Social Responsibility (CSR) activities to encourage the private sector to contribute more towards this activity. 

He informed that the Rural Housing Scheme has benefited a large percentage of rural population who have availed credit through Rural Housing Fund (RHF). In the light of the above, enhanced allocations to the tune of Rs. 8,000 crore has been made for National Housing Bank (NHB) for the year 2014-15 to expand and support Rural Housing in the country.

Thursday, June 26, 2014

Government Approves Rs. 12,500 Crore Transmission Projects

In a bid to fast track building of high capacity inter-state transmission lines, the Ministry of Power has approved 9 new projects with an aggregate cost of over Rs.12,500 crore.

These transmission projects will benefit several states such as Haryana, Chhattisgarh, UP, MP, Maharashtra etc, by enabling high capacity 765kv lines carrying up to 2100MW each apart from construction of new 765/400kv substations. The projects will help evacuate power from central generating stations such as 660MW Sipat of NTPC, 1600MW Gadarwara, private sector generating stations such as Sassan UMPP (1320 MW). Congestion will also be reduced in Haryana Region by the strengthening of the Northern Transmission system. Projects which will be developed through tariff based competitive bidding process inviting participation from all Bidders including private sector.

These projects were mainly stuck in the approval process in the government since last several months. The approval to go ahead with implementation was granted immediately.

In the country as a whole, the total inter-regional transmission capacity of about 28,000 MW will be added in the next 3 years so that the total capacity is enhanced to more than 66000 MW by 2017.