Mo Ghara Yojana [Odisha Govt Scheme]

The Chief Minister of Odisha announced a new initiative called Mo Ghara (My Home) which will be fully funded from the state budget. In this article, you can read more on the Mo Ghara Yojana of the Odisha state government. This topic is relevant for the IAS exam GS paper II.

Mo Ghara Initiative

Mo Ghara (My Home) is a credit-linked housing scheme for the rural poor which aims to convert all the kutcha houses into pucca ones.

• The scheme will be funded from the state budget and will cost Rs 2,150 crore over a period of two years.
• The new scheme aims to cover families that are not covered under the existing PMAY-G scheme owing to stringent eligibility criteria or insufficient allocation. 
• The scheme will also help those who had received housing assistance of a smaller amount in the past and now want to upgrade or expand their houses.
• Under the Mo Ghara scheme, the beneficiary can avail up to Rs 3 lakh which can be repaid in ten years through instalments and excludes one year moratorium period.
• The capital subsidy to the loan account will be released by the state government after the completion of the house.
• There are four slabs of loan amount under the scheme. The rates of subsidy are:
  • Rs 30,000 for a Rs 1 lakh loan
  • Rs 45,000 for Rs 1.5 lakh loan
  • Rs 60,000 for a loan amount of Rs 2 lakh and Rs 3 lakh      
• For the SC/ST category and for the differently-abled, a subsidy of an additional Rs 10,000 will be provided across the slab.  
• The EMI repayment will be made more affordable by the release of capital subsidies to the loan accounts of the beneficiaries.
• The eligibility criteria under the scheme are:
  • Family living in a kutcha house or one pucca room with a concrete roof  
  • Families that have not availed of any government housing assistance  
  • Families that have availed assistance of below Rs 70,000 in the past with a monthly income below Rs 25,000     
• Registration fees and stamp duties required during the mortgage of the title deed are also waived off by the Government of Odisha to reduce the financial burden for the beneficiaries.           

Mo Ghara Yojana [Odisha Govt Scheme]:- Download PDF Here