The government is looking to rollout a mega housing plan to fulfil its dream of a slum-free India. The programme aims at building 50 lakh houses to host some 6 crore slum dwellers across the length and breadth of country. While the programme will help eradicate an ages old social problem, it will also free up thousands of acres of government land and generate business worth billions for the battered real estate industry.
The ministry of housing and urban development has asked for an allocation of Rs 225,000 crore for the scheme, which will be implemented over next five years. The proposal has been sent to the Planning Commission for comments after which it would be considered by the Union Cabinet.
While the Centre will bring most of resources to fund the program, states participation will also be there, for example in identifying sites for construction and choosing beneficiaries. At least 23 of the 25 states have already given in-principle consent for the programme and implementation may begin within the current fiscal.
The government had earlier announced the scheme in the Presidents’ speech to the joint parliamentary session. At a time when Indian real estate industry is facing the wrath of economic slowdown, the scheme may bring huge business for them and will also help boost overall economy by raising aggregate demand.
The big question mark is the execution and the massive corruption that is prevailing in India. Apart from this, we question the Ministers, why don’t they stay in such homes they build rather than allotting themselves homes with 5 star hotel capabilities.