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Housing dream of lower middle class going to be True

Newdelhi(Agency)8/3/17;Venkaiah Naidu, Union Minister of Urban Development, Housing and Urban Poverty Alleviation said, “We are focussing on the upliftment of classes and allocating resources accordingly so that the poor can move to the lower middle class, then to the middle class….”

India has been on the development path for the last few years but unfortunately, the reality is that the poor were becoming poorer while the rich richer, said Naidu. To correct this imbalance, the country saw concessions for the housing sector. Particularly, the interest subvention of three and four per cent for people with annual incomes of up to Rs 18 lakh and Rs 10-12 lakh, respectively.

Naidu told Magicbricks, “Even before the Budget 2017, my ministry had announced interest subvention of six and a half per cent for the economically weaker section.” He further explained that as of now there are three categories of interest subventions:

Category based on income Interest subvention given
Economically weaker section 6.5%
Up to 18L annual income 3%
Rs 10-12L annual income 4%

About Editor in chief

Ashok Palit has completed his graduation from Upendranath College Soro, Balasore and post graduation from Utkal University in Odia Language and literture.. He has also carved out a niche for himself as a scribe of eminence after joining the profession in 1988. He is also an independent media production professional. He brings loads of experience to Advanced Media, Ashok Palit as a cineaste has been active in film criticism for over three decades. As a film society activist, he soared to eminence for his profound commitment to the art film appreciation and aesthetics of cinema. His mode of discourse is often erudite but always lucid and comprehensible marked by a perfect acumen so rare in the field. A film aesthete with an immense fond of critical sensibilities, he wrote about growth and development of odia cinema in New Indian Express, The Times of India, The Hindustan Times, The Asian Age and Screen. He has been working as an Editor for Cine Samaya from 2002-2004.. He had made solid contribution on cinema in many odia Dailies and weekly such as Samaj, Prajatantra, Dharatri, Samaya, Satabadi, and weekly Samaya.

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