- The Union Cabinet has approved creation of National Urban Housing Fund (NUHF) to finance Pradhan Mantri Awas Yojana (Urban) which aims to build 1.2 crore affordable houses in urban areas by 2022.
About National Urban Housing Fund (NUHF):
- NUHF will be placed under aegis of Building Materials and Technology Promotion Council (BMTPC).
- It will be raised from non-budgetary sources and will tap into existing government entities such as Housing and Urban Development Corp. (Hudco).
- NUHF will facilitate raising requisite funds in next four years and plug any budgetary shortfalls.
- It will smoothly sustain construction of houses to address gap in Urban Sector progresses by maintaining flow of Central Assistance under different verticals i.e. Affordable Housing in Parternership (AHP), Beneficiary Linked Construction (BLC), In-Situ Slum Redevelopment (ISSR) and Credit Linked Subsidy Scheme (CLSS).
About Building Materials and Technology Promotion Council (BMTPC):
- BMTPC is an autonomous body under Ministry of Housing and Urban Affairs.
- It is registered under the Societies Registration Act, 1860.
- Its primary task is to mainstream new construction technologies.
- It is responsible to undertake research, development and large scale application of new building material technologies.