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Taxpayers shouldn't subsidise lenders

Govt should ensure that banks don't use the new interest subsidy scheme to shore up their profits

Harsh Roongta 

The government’s home loan interest subsidy scheme has got a big push with the notification of the Prime Minister Awas Yojana meant for middle income households – those with annual incomes between Rs 6 lakh and Rs 18 lakh. The scheme is well designed and flexible.   The property should conform to the standards provided for construction and structural safety and should have basic civic infrastructure like water, toilet, sanitation, sewerage, road, electricity, etc. Its carpet area should be less than 969 sq ft (1,184 sq ft carpet area for income between 12 lakh and 18 ...

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