The decision was taken at a State Cabinet meeting chaired by Chief Minister Naveen Patnaik.
Under the Mo Ghara scheme in the & Drinking Water Department, the Government will provide financial assistance to meet aspiration of the lower and lower middle-class households in rural areas.
The scheme will cover all such families which were left out in the existing housing schemes due to stringent eligibility criteria or due to insufficient allocation and also those families which had received housing assistance of smaller amount in the past and now want to upgrade or expand their houses.
Under the scheme, a beneficiary can avail a loan up to Rs 3 lakh, which can be repaid in 10 years excluding a 1-year moratorium period in easy installments. They can opt for one of the four slabs of the loan amount — Rs 1 lakh, Rs 1.5 lakh, Rs 2 lakh and Rs 3 lakh.
The Government may bear the expenses of Rs 2,150 crore for approximate 4 lakh beneficiaries (1 lakh from each loan slab) over a period of two years for the scheme.