Government takes a huge step by granting Rs 21,000 crore for affordable housing. This affordable housing drive intends to construct 5.1 million rural houses in FY 2019 in addition to 5.1 million houses being constructed this year. Other sector such as Steel, Cement, Paint will surely get a lift from this step.
The plan of action is to extend interest subsidy to the rural households that doesn't fall under PMAY.
Government will give 3% interest subsidy for 20 years loan component up to Rs 2 Lakhs. A dedicated fund for affordable housing in national housing bank is to be created for the same.