New index will show number of houses being constructed

The government Wednesday launched an index that tracks the number of houses being constructed every year in the country.

The Housing Start Up Index (HSUI) was launched by Housing and Urban Poverty Alleviation Minister Girija Vyas, an official release said here.

"The Housing Start Up Index is a joint initiative of the Ministry of Housing and Urban Poverty Alleviation (MoHUPA) through its integral arm, the National Building Organisation, and the Reserve Bank of India," Vyas said.

Housing- and construction-related activities in our country, with its backward and forward linkages, with nearly 254 ancillary industries, have huge multiplier effects on the economy. Thus making the HSUI a leading indicator of the economy itself, Vyas said.

She said the results of the pilot index initiated in 25 cities will be released in the last week of this month or the first week of February.

The minister also listed various schemes of her ministry like Rajiv Awas Yojana, (RAY), Rajiv Rinn Yojana (RRY) and National Urban Livelihoods Mission (NULM).