Assam launches housing, education loan subsidy scheme

Assam launches housing, education loan subsidy scheme

The BJP-led government in Assam on Tuesday launched a housing loan subsidy scheme to provide financial relief on the purchase or construction of the first house for a family.

Assam Finance minister, Himanta Biswa Sarma launched the scheme titled “Aponar Apon Ghar” (meaning your own home) and said that subsidy up to Rs 2.5 lakh will be provided for loan amounts from Rs 5 lakh to Rs 40 lakh.

“Up to loan amount from Rs 5 to Rs 10 lakh one lakh interest subsidy will be provided. While between Rs 10 lakh to Rs 20 lakh the subsidy will be Rs 1.50 lakh, from Rs 20 lakh to Rs 30 lakh Rs 2 lakh subsidy will be given and from Rs 30 to Rs 40 Lakh Rs 2.50 lakh will be provided,” Sarma said.

“This scheme is meant for the loan sanctioned in this financial year. This move will provide an impetus to the economy; it will boost the demand and led to the expansion of real estate in the state. This move is in line with measures provided by Union Finance Minister Nirmala Sitharaman,” he said.

In the same function, Sarma also launched an education loan interest subsidy wherein subsidy will be provided to children who have availed education loans for pursuing higher education. The one-time subsidy will be of Rs 50,000, he said.