Question : Aims and Objections of CLSS

(a) the aims and objectives of the Credit Linked Subsidy Scheme (CLSS) announced by the Finance Minister as a part of PM’s Atmanirbhar Bharat Initiative;

(b) the segments which are going to get benefited from this scheme;

(c) whether the said scheme is only an extension to the pre-existing scheme and if so, the details thereof;

(d) the performance of the scheme since its implementation, State-wise;

(e) the details of applications submitted for benefits under the scheme and number of applications approved and the reasons for not approving the remaining one, if any, State-wise; and

(f) the number of people which are expected to be benefited from this scheme?

(a) to (c): Government of India launched Credit Linked Subsidy Scheme for Middle Income Group (CLSS for MIG) under Pradhan Mantri Awas Yojana (Urban) with effect from 01.01.2017 to provide interest subsidy for housing loans to eligible beneficiaries belonging to Middle Income Group (MIG). The Scheme covers two income segments in the MIG viz. annual household income between Rs.6,00,001 to Rs.12,00,000 (MIG-I) and annual household income between Rs.12,00,001 to Rs.18,00,000 (MIG-II). The interest subsidy under the scheme is available to beneficiaries of MIG-I and MIG-II categories for loan amounts up to Rs.9,00,000/- and 12,00,000/- and the interest subsidy is at the rate of 4% and 3%, respectively.
Under Atmanirbhar Bharat initiative, CLSS for MIG has been extended from 01.04.2020 to 31.03.2021.

(d) State-wise performance of the scheme is annexed.

(e) The home loan applications involving CLSS subsidy are scrutinized by Primary Lending Institutions (PLIs) at their level as per their due diligence process and the details about number of applications received and rejected by PLIs and the reasons for their rejection are not reported to Central Nodal Agencies (CNAs)/this Ministry.

(f) CLSS is a demand driven scheme and benefit is being provided to eligible beneficiaries accordingly.

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