Land for Affordable Housing
Img : Nahargroup

The Narendra Modi-led Central Government gave its nod for the revised guidelines for the closing of sick alias the loss-making central public sector enterprises. These new guidelines will also be implemented for the disposal of PSUs moveable and immovable assets.

According to the new guidelines, the Government’s priority is to ensure the use of land owned by the Central Public Sector Enterprises [CPSEs] for the construction of affordable housing. This action is being taken after the Ministry of Housing and Urban Affairs directed revised guidelines. The revised rules will save time and will minimize the delay in the closing of the loss-making PSUs.

The revised guidelines will act as a framework in the completion of multiple processes and procedures for closing the CPSEs while laying down the important milestones in the concluding process along with timelines, drawing the responsibilities of the concerned Ministries/Department/CPSE etc. in the process, an official said.

The decision to utilize the land parcels of loss-making PSUs for the construction of affordable homes were taken by the Union Cabinet at a meeting presided by the Prime Minister Narendra Modi here in Delhi.

Earlier, PM Narendra Modi launched the PMAY [Pradhan Mantri Aawas Yojna] Scheme in the year 2015 with the idea to build affordable homes and set the target to achieve Housing for All by the year 2022. The Central Government also offers a subsidy to the Economically Weaker and Middle-Income group on buying of a residential property.