Towards consolidation of the housing finance system in India: Fid-Bau Portal

Towards consolidation of the housing finance system in India

Sharma, S.K.

AbstractIndirect or direct subsidy is an essential component of a shelter programme for the underprivileged in any developing country. This calls for a multilayered housing finance system to tackle the problem on a long term basis. The magnitude of the problem, always eluding solution, requires expert management of such a financial system to ensure continuous cash flow. The setting up of the Housing and Urban Development Corporation (HUDCO) by the government two decades ago filled a large void that existed in the chain of resources necessary for tackling India's housing problem. It was set up with seed money which, through prudent management, has been multiplied now many times with thousands of underprivileged having benefited by its direct and indirect assistance to build houses. The author, the Chief Executive of the organization, has brought out through this paper the need for further consolidation of fiscal resources as a primary objective of any housing programme to be successful in any developing country. HUDCO could be a model finance institution for any developing country having similar objectives.