News & Information From Northeast India

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 purchase or construction of the first house for a family.

Assam Finance Minister Himanta Biswa Sarma launched the scheme titled “Aponar Apon Ghar” (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, Rs 1 Lakh interest subsidy will be provided. While between Rs 10 Lakh to Rs 20 Lakh the subsidy will be Rs 1.50 Lakh and for loan of Rs 20 Lakh to Rs 30 Lakh the subsidy amount will be Rs 2 Lakh. For loan amount of Rs 30 to Rs 40 Lakh, Rs 2.50 lakh subsidy will be provided,” Sarma said.

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

Sarma also launched an education loan interest subsidy wherein subsidy will be provided to children who have availed education loan for pursuing higher education. The one-time subsidy will be of Rs 50,000, the minister informed.

Image Credits: Here.

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