Union Labour Minister Bandaru Dattatreya said the Urban Development Ministry with collaboration with EPFO (Employees' Provident Fund Organisation) will construct 10 lakh homes in next 2 years.
The decision will be a boost to the vision of PM Narendra Modi's home for all in 2022. In 2015 PM Narendra Modi had had given a nod for Housing for all by 2022 which was directed for urban areas which was to be followed by components to States and Union Territories and cities.
Dattatreya has requested state government for land wherever required. He has also put up a proposal with Ministry of Urban Development for Economic Weaker Section (EWS) for subsidy on nterest of Rs 2.2 lakhs.
The Union Minister while talking to ANI said "the subscribers with lower income group enrolled with EPFO will get 3 percent income subsidy on loan amount from Rs 6 lakhs to 12 lakhs, and 4 percent on loan amount up to 18 lakhs".