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Cabinet approves Extension of tenure of loans under the Credit Linked Subsidy Scheme (CLSS) of Pradhan Mantri AwasYojana (PMAY) from 15 to 20 years

News and Press Release - Dated:- 1-2-2017 - Introduction of a new CLSS for Middle Income Group The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given ex-post facto approval to the proposals for (i) Extension of tenure of loans under the Credit Linked Subsidy Scheme (CLSS) vertical of Pradhan MantriAwasYojana (Urban) Mission from 15 to 20 years (to be renamed as CLSS for EWS/LIG. It will be named as CLSS for economically weaker sections of society / Lower Income Group; (ii) .....

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ocation of ₹ 1000 crore initially in the budget for 2017-18 at the BE stage for the proposed CLSS for MIG and (vi) Issue of the operational guidelines for CLSS for MIG with approval of the Minister-in-charge. Objectives a. Increase the off-take in EWS and LIG segments under existing Pradhan MantriAwasYojana (Urban) - Housing for All Mission; b. Outreach to the Middle Income Group (MIG); c. Make procedures easy for the Primary Lending Institutions (PLIs); d. Provide an incentive to PLIs for .....

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