Union Cabinet today approved the development of Affordable Rental Housing Complexes (AHRCs) for urban migrants and poor as a sub-scheme under Pradhan Mantri Awas Yojana – Urban, said I&B Minister, Prakash Javadekar.

Under the new scheme, existing vacant government-funded houses will be converted to AHRCs. "Special incentives like use permission, 50% additional floor area ration or floor space index, tax reliefs to be offered," Javadekar said during the press briefing.

Moreover, expenditure of Rs. 600 crore is estimated in the form of technology, innovation grant for this new scheme under PMAY and initially, 3 lakh beneficiaries to be covered initially.

Complexes will revert to ULB after 25 years to restart next cycle.

Apart from this, the Cabinet today approved the extension of the EPF support for business and workers for three more months under its Pradhan Mantri Garib Kalyan Package. The government had also reduced EPF contribution for business entity and workers to 10% from 12% till 30 August.

It also approved capital infusion of Rs.12,450 crore for three Public Sector General Insurance Companies – Oriental Insurance Company Ltd, National Insurance Company Ltd & United India Insurance Company Ltd (including Rs. 2500 cr infused in FY 2019-20).

Union Cabinet today approved the development of Affordable Rental Housing Complexes (AHRCs) for urban migrants and poor as a sub-scheme under Pradhan Mantri Awas Yojana – Urban, said I&B Minister, Prakash Javadekar.

Under the new scheme, existing vacant government-funded houses will be converted to AHRCs. "Special incentives like use permission, 50% additional floor area ration or floor space index, tax reliefs to be offered," Javadekar said during the press briefing.

Moreover, expenditure of Rs. 600 crore is estimated in the form of technology, innovation grant for this new scheme under PMAY and initially, 3 lakh beneficiaries to be covered initially.

Complexes will revert to ULB after 25 years to restart next cycle.

Apart from this, the Cabinet today approved the extension of the EPF support for business and workers for three more months under its Pradhan Mantri Garib Kalyan Package. The government had also reduced EPF contribution for business entity and workers to 10% from 12% till 30 August.

It also approved capital infusion of Rs.12,450 crore for three Public Sector General Insurance Companies – Oriental Insurance Company Ltd, National Insurance Company Ltd & United India Insurance Company Ltd (including Rs. 2500 cr infused in FY 2019-20).