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Governance Prev Affordable Rental Housing Complexes for Urban Migrants Tags: GS Paper - 2PovertyGovernment Policies & InterventionsWelfare SchemesIssues Relating to DevelopmentGS Paper - 3Inclusive Growth Why in News Recently, the Union Cabinet has approved a scheme for providing affordable rental housing to about 3 lakh urban migrants. It will be a sub-scheme of the Pradhan Mantri Awas Yojana- Urban that is implemented by the Ministry of Housing and Urban Affairs. The creation of Affordable Rental Housing Complexes (ARHCs) is as a part of the government’s economic package to address the Covid-19 crisis. The scheme is in line with the vision of AtmaNirbhar Bharat. Key Points Target Beneficiaries: Workers who come from rural areas or towns to work in manufacturing, hospitality, health, construction, etc. Features: Affordable Rental Housing: About 1.03 lakh completed government-funded houses across cities that are yet to be allotted to beneficiaries (Urban poor) under existing schemes would be converted into the rental housing complexes. Concession Agreements: The conversion will be done through concession agreements for 25 years. The States and Union Territories would invite bids to select concessionaires. Concessionaires will make the complexes livable by repair/retrofit and maintenance of rooms and filling up infrastructure gaps like water, sewer/ septage, sanitation, road etc. Complexes will revert to Urban Local Bodies (UL after 25 years to run on their own. Special Incentives to Entities: Special incentives like concessional loan at priority sector lending rate, etc. will be offered to private/ public entities to develop ARHCs on their own available vacant land for 25 years. Technology Innovation Grant: Under it an expenditure of Rs. 600 crore would be provided for projects using identified innovative technologies for construction. Significance: Creation of New Ecosystem: It will create a new ecosystem in urban areas making housing available at affordable rent close to the place of work. Hence, cutting down unnecessary travel, congestion and pollution. Investment Opportunities: It would create a conducive environment for entities to develop AHRCs on their own vacant land which would enable new investment opportunities and promote entrepreneurship in the rental housing sector. Employment: Covid-19 pandemic has resulted in massive reverse migration of workers/ urban poor. Investment under ARHCs is expected to create new job opportunities. Pradhan Mantri Awas Yojana -Urban It was launched in 2015 by the Ministry of Housing and Urban Affairs, in which affordable housing will be provided to the urban poor with a target of building 20 million affordable houses by 31st March 2022. It provides central assistance to Urban Local Bodies (ULBs) and other implementing agencies through States/UTs. Eligibility: All statutory towns as per Census 2011 and towns notified subsequently would be eligible for coverage under the Mission. Provisions: In-situ Rehabilitation of existing slum dwellers using land as a resource through private participation. Credit Linked Subsidy. Affordable Housing in Partnership. Subsidy for Beneficiary-led individual house construction/enhancement. The mission promotes women empowerment by providing the ownership of houses in the name of female members or in joint name. Source: PIB Agriculture Prev Agriculture Infrastructure Fund | #gs_paper_2 #gs_paper_3 #inclusive_growth #agricultural_marketing #growth_development

Governance Prev Affordable Rental Housing Complexes for Urban Migrants Tags: GS Paper - 2PovertyGovernment Policies & InterventionsWelfare SchemesIssues Rel

Governance Prev Affordable Rental Housing Complexes for Urban Migrants Tags: GS Paper - 2PovertyGovernment Policies & InterventionsWelfare SchemesIssues Rel

Recently, the Union Cabinet has given approval to a pan India central sector scheme i.e. Agriculture Infrastructure Fund, to inject formal credit into farm and farm-processing based activities