The Labour Ministry is
preparing a mega housing scheme to offer affordable houses to more than 5 crore subscribers of retirement fund body
EPFO in the backdrop of the government's mission 'Housing for all by 2022'.
The Ministry intends to
collaborate with PSU banks, housing finance companies, state-owned construction
firms such as NBCC and authorities such as DDA, PUDA, HUDA to build houses at a
price to be fixed by the government.
"Labour Ministry
is preparing a scheme under which affordable houses will be provided to the
Employees' Provident Fund Organisation (EPFO) subscribers, particularly those
who are in the low income bracket," a source in the ministry said.
At present, there are
over 70% EPFO subscribers whose basic wages are less than Rs. 15,000 per month.
In a recent note, the
Prime Minister's Office had asked EPFO to promote affordable housing for its
subscribers and use its funds for the purpose.
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