Panel clears Rs 60,000 crore urban housing subsidy scheme

EFC is chaired by the Expenditure Secretary

In case of all schemes of the Central Government

Where the budgetary allocation is in excess of Rs 500 crore.

The Centre will shortly roll out a new Rs 60,000 crore

Interest subsidy for the urban poor and middle class, sources said

The scheme, which will run over five years

 will offer interest subvention of 3-6% per annum

On home loan amounts up to Rs 50,00,000.