Budget 2018: Allocation for affordable housing doubled to Rs 8 billion

Budget revises allocation for EWS and LIG categories under PMAY

The credit-linked subsidy scheme for affordable housing has finally taken off, at least for the economically weaker section (EWS) and the low-income group (LIG). The demand from the middle-income group (MIG) is, however, lower than expected.

In the Union Budget for 2018-19, presented by Finance Minister Arun Jaitley in Parliament on February 1, the allocation for the EWS and the LIG has been increased to Rs 10 billion. Even for the current financial year (2017-18), the subsidy amount has been doubled to Rs 8 billion. 

On the other hand, the allocation for MIG in 2018-19 is Rs 9 billion —