In an important move on Wednesday evening, the Union Cabinet, chaired by Prime Minister Narendra Modi, gave its approval for the development of Affordable Rental Housing Complexes (AHRCs) for urban migrants and poor as a sub-scheme under Pradhan Mantri Awas Yojana-Urban (PMAY-U).

This especially included the transmission of the repo rate cuts to consumers in terms of reduced interest rates.

The Union Minister for Finance & Corporate Affairs, Nirmala Sitharaman today said that the COVID emergency credit facility covers all companies and not just MSMEs.

Union Human Resource Development Minister, Ramesh Pokhriyal ‘Nishank’ and Minister of State (Independent Charge), Housing & Urban Affairs, Hardeep Singh Puri jointly launched the maiden initiative, ‘The Urban Learning Internship Programme (TULIP)’ in New Delhi on Thursday.

The finance minister announces affordable rental accommodation for migrant workers and urban poor and extends subsidy under the prime minister’s housing programme.

In his fifth public address ever since the country’s announced the world’s largest lockdown to contain the COVID-19 pandemic on March 24, Prime Minister Modi gave a clarion call for a ‘Self-Reliant India’ as well as outlined five pillars of the economy, infrastructure, system, demography and demand on which this would be based.

The Rs 20 trillion economic revival package announced on Monday by Prime Minister Narendra Modi ranks among the most substantial in the world relative to the country’s GDP. Of the five pillars identified to support the edifice of a New India, infrastructure forms the second pillar.

Further extension of the nationwide lockdown by Prime Minister Narendra Modi till May 3 is going to weigh on the economy.

The Rs 20 trillion economic revival package announced by Prime Minister Narendra Modi is among the most substantial in the world. Of the five pillars identified by Modi to support the edifice of a New India, infrastructure occupies the second place.