Rs 25,000 crore bailout fund will benefit around 4.50 lakh home buyers: PM Modi

Prime Minister Narendra Modi on November 07 said that the recent cabinet decision of setting up of a Rs 25,000 crore bailout fund to finance 1,600 stalled housing projects will benefit around 4.50 lakh home buyers. While speaking at Himachal Global Investors' Summit in Dharamshala, PM Modi said, "Union Cabinet yesterday (November 06) took a big decision, keeping in mind the dream of around 4.50 lakh middle class families to own a house. This decision will benefit around 4.50 lakh home buyers." In the decision, government has approved setting up of a Rs 25,000 crore bailout fund to finance 1,600 stalled housing projects as it looks to boost the economy by kick-starting incomplete projects.