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Relevant for: Indian Economy | Topic: Issues Related to Poverty, Inclusion, Employment & Sustainable Development

A scheme for providing affordable rental housing to about 3 lakh urban migrants was approved by the Union Cabinet on Wednesday.

The creation of affordable rental housing complexes was announced by Finance Minister Nirmala Sitharaman on May 14 as a part of the package to address the COVID-19 crisis.

At a meeting chaired by Prime Minister Narendra Modi, the Cabinet approved the scheme, which will be a sub-scheme of the Pradhan Mantri Awas Yojana-Urban that is implemented by the Housing and Urban Affairs Ministry. About 1.03 lakh completed government-funded houses across cities that were yet to be allotted to beneficiaries under existing schemes would be converted into the rental housing complexes, Union Information and Broadcasting Minister Prakash Javadekar said at a press briefing. He said the urban local bodies in cities would decide the rent amount. The vacant housing complexes would be converted through 25-year concession agreements, a statement said.

It added that the target beneficiaries would be workers who come from rural areas or towns to work in manufacturing, hospitality, health, construction, etc.

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