Mo Ghara (My Home)

GS-II | Governance

 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.

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