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sector, the household income CONCLUSION in Housing Sector on GDP
increases by Rs. 0.41 through It has been established that and Employment in Indian
direct and indirect effects; increase in investment in the Economy, Indian Institute of
and with induced effect, this housing activities generates Management, Ahmedabad,
is estimated to be Rs. 0.76. strong multiplier effects, Study sponsored by HUDCO,
Therefore, for an investment July, 2000.
of Rs. 2.79 lakh crore for 86.41 triggering the development
different
inter-
other
of
lakh houses grounded so far related industries and MoHUA (2021), Pradhan
under PMAY(U), additional sectors. Therefore, priority Mantri Awas Yojana (Urban)
total income generated for investment in the housing - Housing for All, Operational
households would have been Guidelines. Ministry of
to the tune of Rs. 2.12 lakh and real estate sector is one Housing and Urban Affairs
of the key factors for not only
crore, including Rs. 1.14 lakh increasing overall welfare of
crore due to direct & indirect population and increasing (MoHUA), Government of
effects. Further, for 113.06 business activities in various India, New Delhi and PMAY
lakh houses involving Rs.7.39 Dash Board accessed on 16th
lakh crore, total additional sectors but also improving September, 2021 at http://
growth
overall
economic
income to be accrued to all the of the nation. Theforegoing mohua.gov.in.
households would be around analysis clearly highlighted
Rs. 5.62 lakh crore. NCAER (2014), Impact of
the significant role of Investment in Housing Sector
As the NCAER Study housing sector in not only on GDP and Employment in
estimates, for every additional addressing the urban housing the Indian Economy, National
rupee invested in the housing challenges but also providing Council of Applied Economic
sector, Rs. 1.54 is added to employment, income and Research (NCAER), New
the GDP and with household livelihood support, most Delhi, Study supported
expenditure considered, importantly for the informal by DFID and Ministry of
this is going to add Rs. 2.84. sector of the economy.The
Therefore, an investment pace and performance of Housing and Urban Poverty
of Rs. 2.79 lakh crore under the PMAY Housing for All Alleviation, April, 2014.
PMAY(U) would have added (Urban) Mission, the largest NIPFP(2019), A Report on
Rs. 7.93 lakh crore to GDP housing programme in the Assessing Employment
of the country, including Rs. world in terms of its scale and Generation under Pradhan
4.30 lakh crore due to direct impact,is certainly going to Mantri Awas Yojana (Urban),
and indirect effects. Further, be a key factor in achieving
Rs.7.39 lakh crore investment India’sambitious goal of $ National Institute of Public
under PMAY(U) would add 5 trillion economy by 2025 Finance and Policy, New
Rs. 37.76 lakh crore to the as well as the Sustainable Delhi, February 2019
GDP through direct, indirect Development Goals (SDGs). Turner, John F.C (1972),
and inducted effects of Housing as a Verb, in ‘Freedom
housing investment. All these to Build, dweller control of
estimated figures reaffirm the
huge role of housing sector REFERENCES the housing process’, John F.C
in not only improving the Dholakia, Bakul H, & Turner & Robert Fichter (eds.),
quality of living of the people Dholakia, Ravindra H. Collier Macmillan, New York,
but also in the nation building. (2000), Impact of Investment 1972.
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