According to Government Sources, India is Considering a $7.2 Billion Housing Loan Interest Subsidy Scheme

India is considering spending 600 billion rupees ($7.2 billion) to offer subsidised loans for small urban dwellings, according to two government sources.

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The program will provide a 3-6.5% annual interest subsidy on loans up to 0.9 million rupees.

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“The beneficiaries’ housing loan accounts will be immediately credited with the interest subvention.

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