Elaborating on the extension of CLSS scheme, Finance Minister Nirmala Sitharaman said it will give a Rs 70,000 boost to the housing sector, which has been hit hard due to the prolonged lockdown. 

The extension of the scheme for middle income groups with annual income between Rs 6 lakh-Rs 18 lakh. (Photo: Reuters/Representational image)

The government announced that it will extend the Credit Linked Subsidy Scheme (CLSS) up to March 2021, which will benefit at least 2.5 lakh middle-income families.

The announcement was made by Finance Minister Nirmala Sitharaman during a press conference held today, where she shared details on the second tranche of Rs 20 lakh crore relief package.

Elaborating on the extension of CLSS scheme, Sitharaman said it will give a Rs 70,000 boost to the housing sector, which has been hit hard due to the prolonged lockdown.

The extension of the scheme for middle-income groups with annual income between Rs 6 lakh-Rs 18 lakh is expected not only to create investment in the housing sector and will also create jobs.

It will also help stimulate demand for steel, cement, transport and construction materials.

Commenting on the same, ANAROCK Property Consultants Chairman Anuj Puri, said, “In a big move, the government has announced the one-year extension of the CLSS scheme up to March 2021. This will help push demand for affordable housing.”

He went on to say that the scheme has already benefited over 3.3 lakh families in the past and the extension will further aid many more families to avail housing under the scheme.

“As a ripple effect of increased demand for affordable housing, it will positively push demand for raw materials like cement, steel, transport and other construction materials.”

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