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Government Subsidy and Schemes

Pradhan Mantri Awas Yojana (PMAY) - Credit Linked Subsidy Scheme ( CLSS)

 Ministry of Housing and Urban Poverty Alleviation (MoHUPA) has introduced in June 2015, an interest subsidy scheme called Credit Linked Subsidy Scheme (CLSS) under Pradhan Mantri Awas Yojana (URBAN)-Housing for All, for purchase/construction/extension/improvement of house to cater Economical Weaker Section(EWS)/Lower Income Group(LIG)/Middle Income Group (MIG), given the projected growth of urbanization & the consequent housing demands in India.

 Eligibility

1. The beneficiary family should not own a pucca house in his/her or in the name of any member of his/her family in any part of India.
2. In case of married couple, either of the spouse or both together in joint ownership will be eligible for a single subsidy.
3. The beneficiary family should not have availed of central assistance under any housing scheme from Government of India or any benefit under any scheme in PMAY.

Beneficiary

The beneficiary family will comprise husband, wife and unmarried children. (An adult earning member irrespective of marital status can be treated as a separate household in MIG category)

Coverage:

All statutory towns as per Census 2011 and towns’ notified subsequently, including planning area as notified with respect to statutory town.

The eligibility is dependent on the income group you fall in

Income Group

Annual Household Income

EWS Up to ` 3 Lacs

LIG: 3.01 to ` 6 Lacs

MIG 1: 6.01 to ` 12 Lacs

MIG 2: 12.01 to ` 18 Lacs

Documents Required

1. Aadhar number(s) of the beneficiary family are mandatory for MIG category.
2. The interest subsidy will be available for a maximum loan tenure of 20 yrs or the loan tenure whichever is lower.
3. The interest subsidy will be credited upfront to the loan account of beneficiaries through HDFC resulting in reduced effective housing loan and Equated Monthly Installment (EMI).
4. The Net Present Value (NPV) of the interest subsidy will be calculated at a discount rate of 9 %.
5. The additional loan beyond the specified limits, if any to be at non-subsidized rate.
6. There is no cap on the loan amount or the cost of the property.

NABARD Subsidy for Dairy Farming

Dairy farming is big business in India and according to Assocham report, milk production in India is likely to reach 190 million tones by 2015 with an annual turnover of over Rs.5 Lakh Crores. In an effort to further strengthen dairy farming in India, the NABARD subsidy for dairy farming was launched. The objectives of the scheme include:

• To promote setting up of modern dairy farms for production of clean milk
• To encourage heifer calf rearing thereby conserve good breeding stock
• To bring structural changes in the unorganized sector so that initial processing of milk can be taken up at the village level itself.
• To bring about upgradation of quality and traditional technology to handle milk on a commercial scale
• To generate self employment and provide infrastructure mainly for unorganized sector.

Eligibility

The following types of persons and association of persons are eligible for receiving the NABARD Dairy Farming Subsidy:

• Farmers
• Individual Entrepreneurs
• NGOs
• Companies
• Groups of unorgainsed and organized sector etc.
• Groups of organized sector include Self Help Groups, Dairy Cooperative Societies, Milk Unions, Milk Federations, etc.

However, an individual will be eligible to avail the dairy subsidy for all the components under the scheme but only once for each component. Further, if more than one member of a family must avail the dairy farming subsidy, they they must setup separate units with separate infrastructure at different locations. The distance between the boundaries of two such farms should be at least 500m.