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JAMMU: The administration of Jammu and Kashmir has approved the proposal to give interest-free loan of up to Rs 2 lakhs to the beneficiaries under Benefeciary Led Construction (BLC) component of the Pradhan Mantri Awas Yojana-Urbban (PMAY-U). Lieutenant Governor Manoj Sinha, approved this proposal of the Department of Housing and Urban Development.
The people under BLC component of PMAY-U face challenges in mobilising their contribution as they come from the economically weaker sections of the society. As a result of this, the construction of houses under this component of PMAY-U could not achieve the expected target. They have demanded for the enhancement of the assistance in their favour so that they can complete their construction under the targeted date.
Due to the shortcomings faced by the beneficiaries in arranging financial resources, the government decided to provide interest subsidy to the people under the scheme. The interest-free loan is over the monetary assistance of Rs 1.66 lakh which was already being provided to the beneficiaries under PMAY-U. The scheme will benefit 41,992 people under BLC component of the scheme.
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