Finance Minister Piyush Goyal, who has briefly taken over from the ailing Arun Jaitley, makes a pitch for all home buyers across the nation, by pumping in more capital into the housing sector. In a meeting with the heads of all public sector banks, Goyal took stock of their performance towards setting the agenda for 2019. He announced that the banking sector had had a healthy performance, and they needed to work doubly hard to sustain this growth. Enumerating the profit gathered, he added that it was crucial that the banks help boost the economy.

Goyal highlighted, what seems to be this government's long term goal i.e. financial inclusivity for every Indian. The Pradhan Mantri Awas Yojana (PMAY), with Goyal's new direction, will be a dedicated focus for banks which aims to house every Indian, by 2022. Targetting the lower and mid-income groups, the scheme provides subsidized and affordable housing for all.

Our Take

1. Owning your dream home will no longer be a fantasy because, under the PMAY, the public sector banks are compelled to lend potential buyers with a nominal interest rate, making the whole process of buying a home, increasingly affordable.

2. Move-in-date won't be too far away now as Goyal insists that the banks would fasten their loan sanctioning process.

3. A probable higher standard of living because the scheme promises to construct homes with a round the clock water & electricity supply and other housing amenities. Slum rehabilitation and restructuring also promise a more wholesome, healthier life for dwellers.

4. Better neighbourhoods to reside in while reducing the abject differences between the country's dire living situation and its affluence.