Union Cabinet approved Rs 25,000 crore for Stalled Housing Projects

Current context: The union cabinet in its meeting on 6th November has decided to set up Rs 25,000 fund to revive stalled housing projects.

• The fund is being provided to complete a set of unfinished projects due to non-availability of the fund to developers, and consequently ensure delivery of homes to a large number of home-buyers.
• It will finance over 1,600 stalled housing projects that comprise 4.58 lakh housing units across the country.
• The government shall act as the sponsor and the funds are provided as:
• Rs 10,000 crore will be put in as Category-II Alternative Investment Fund (AIF) registered with SEBI.
• Rs 15,000 crore will be provided by the State Bank of India (SBI) and Life Insurance Corporation (LIC).
• The AIF would be entrusted to professional Investment Managers.
• Projects declared as non-performing assets and those undergoing insolvency at the National Company Law Tribunal (NCLT) are included for financing.

Question:

Q.1 The Central government has recently set up Rs ________ fund to revive stalled housing projects in the country?
a. Rs 1 lakh crore
b. Rs 50,000 crore
c. Rs 25,000 crore
d. Rs 10,000 crore