The rural development ministry has decided to provide an additional equity support of Rs 50 crore to Housing and Urban Development Corporation (Hudco) in the current financial year to facilitate greater flow of funds for rural housing.
This was announced by rural development minister M Venkaiah Naidu at a meeting here, in which Hudco chairman V Suresh presented a dividend cheque of Rs 5.40 crore to the government.
Suresh said Hudco had already constructed 77.17 lakh rural houses. Of these, nearly, 46 lakh houses were constructed during the past three years.
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Naidu said the increased equity support to Hudco was part of the government policy to meet the housing needs of the low-income groups in rural areas.
The ministry had released Rs 50 crore support to Hudco in 1998-99, Rs 150 crore in 1999-2000 and Rs 100 crore in 2000-01, he said.
The additional resources made available to Hudco through such support are targeted exclusively at rural areas.
A dedicated rural housing cell has been set up in Hudco for this purpose.