Saturday, March 17, 2012

Urban Development and Housing Budget

Budgetary support to the Ministry of Housing and Urban Poverty Alleviation for FY 13 is Rs 1,163 crores (15% increase YoY). Major plan expenditure in the housing space is financed out of the Internal and Extra Budgetary Resources (IEBR) of Housing and Urban Development Corporation (HUDCO), and is budgeted at Rs 12,176 crores (an increase of 3% over last year).[1] Budgetary support for the Department of urban development increased by 12% to Rs 7,729 crores. Urban development plan outlay will also be supported by Rs 2,637 crores (flat at last year’s level) of IEBR, specifically by the NCR Planning Board and Delhi Metro Rail Corporation (DMRC). [2]

In addition to above, expenditure of various other ministries includes an urban component, such as the Ministry of Youth Affairs and Sports spends on sports infrastructure in urban areas. The National Health Mission is slated to expand coverage to urban population this year. Government is also working on a legislation to safeguard and promote the livelihoods of street vendors under the ‘National Scheme for Support to Street Vendors’ and is launching the ‘National Programme for Urban Homeless’ to help create a network of composite shelters. Mumbai Metro, Jaipur Metro and Kochi Metro will be introduced in FY'13; The Govt. is also studying feasibility reports for Metro Rail projects for all cities with population over 20 lakh people. Rs 148 crores will be spent on capacity building for the flagship schemes - JNNURM and RAY.
Budget Allocation to various urban development and housing schemes over past three years is given below:

2 comments:

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  2. Are there any updates about this year's budget allocation for India? I know it's easy to say for me this but, hopefully there will be bigger allocation for the housing projects in the country. I believe proper sanitation will follow if they have better houses to stay in than the squatter's area they used to stay. I'm not belittling the country's ability, India is such a great place to visit. Help the citizens manage their finances so they can save up for better housing loans the government has to offer.

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