Mo Ghara (My Home)
· The Naveen
Patnaik-led Odisha government announced a new initiative, Mo Ghara (My Home) – a credit-linked housing scheme for rural poor in
the state with an aim to convert all kutcha houses into pucca ones – a
promise made by the ruling BijuJanata Dal (BJD) in its 2019 election manifesto.
· The scheme is set to
benefit around four lakh families. The announcement of the scheme a year before
the 2024 general elections assumes significance politically as the BJP-led NDA
government at the Centre has already sanctioned around 9.5 lakh houses under
Pradhan MantriAwasYojana-Gramin (PMAY-G).
· The new scheme will
cover families that were left out of the existing PMAY-G scheme owing to
stringent eligibility criteria or insufficient allocation. It will also help
those who had received housing assistance of a smaller amount in the past and
now want to upgrade or expand their houses.
· Under the Mo Ghara
scheme, a beneficiary can avail housing
loan of up to Rs 3 lakh that can be repaid in 10 years in easy instalments
excluding one year moratorium period. “The state government will release
capital subsidy to the loan account of the beneficiaries on completion of the
house
· There will be four
slabs of loan amount. The rates of the subsidy will be Rs 30,000 for aRs 1 lakh
loan, Rs 45,000 for Rs 1.5 lakh loan, and Rs 60,000 for a loan amount of Rs 2
lakh and Rs 3 lakh.
· Families having four-wheelers or any member in
government service or irrigated land of five acres or more will not be eligible
for the loan.
