If you’re looking for all the latest developments on the housing front, than continue reading as we’ll give you all the current news on PM Modi Yojana and related schemes. PM Modi is the chief minister of Gujarat and has been credited for bringing about some positive changes in the lives of Gujarat’s people. In his first term as prime minister, Modi surprised everyone by extending his national popularity to include the state of Gujarat as one of his key portfolios.
Arrears Relief for the Disabled and Future Generations
The PM Modi Scheme is being implemented by the Central Board of Excise and Customs which has been extended by an additional six months to enable the scheme to be implemented fully. The original target was to finish by April or May but this time the deadline has been extended as the board wants to complete the entire project by June end. The scheme has been extended because the previous board which was handling the whole project was unable to complete the target in its stated time period. The main reason for this delay in the original target was lack of required resources and staff.
The PM Modi scheme was started with the objective of providing the ex-service personnel and the disabled with loans at a better interest rate so that they can buy basic commodities. Through the scheme all those who have been rendered unemployed due to various reasons including redundancy, medical reasons and others could be eligible for a monthly income called an Aared Account. The main benefits of Aared Accounts are that there are no monthly installments and it does not require a fixed installment amount like the other loans. This allows families and individuals with different kinds of needs to get the monthly monetary support they require from the scheme.