Thursday, May 28th, 2020

Pilot Covers 27 Cities; Going to be Expanded to 300 Cities : Dr Girija Vyas

Ministry of Housing and  Urban  Poverty Alleviation,Mo HUPA,Dr Girija Vyas, Minister, Chairperson of  the  Technical   Advisory Group of  HSUI,  Dean  Jawaharlal Nehru University,  Prof   Amitabh  Kundu,  Director  General  andINVC, Delhi,             The Ministry of Housing and  Urban  Poverty Alleviation(M/o HUPA), and the  Reserve  Bank of India  today released the  results of the  Pilot  Housing Start  Up Index  (HSUI). Dr Girija Vyas, Minister, M/o HUPA, presided over the function. Senior   officials  from   Reserve   Bank  of  India,   Secretary,  Ministry  of  HUPA   and Chairperson of  the  Technical   Advisory Group of  HSUI,  Dean  Jawaharlal Nehru University,  Prof   Amitabh  Kundu,  Director  General  and   CEO,  NSSO,  Director General, CSO, were  present during the release  of the Pilot Index.           Dr Vyas while  giving  her  key  note  address, spoke  about   the macroeconomic linkages of the housing sector  due  to the spillover effects on nearly 254 ancillary industries and  the contribution of this sector  to about  10% of the GDP and  the resultant significance of the HSUI in being  a key macro  economic indicator. The  Minister also  said  that  this  is  the  first  of  its  kind,  initiative in  the  country, making India  only the 7th in the world, to have  such  an index.  Internationally, only 6 developed countries  namely  Canada, United  States, Japan, France, Australia and New  Zealand  are  compiling data  related to housing starts,  on  a regular basis,  she said. The Minister  said that this pilot index covers 27 cities and efforts will be made for its expansion to cover 300 cities in near future.                 Highlighting the findings , Dr Vyas said that the interesting trend in the results of the Pilot Index which  showed a decline  in  housing starts  in  million  plus  cities  such  as  Kolkatta, Chennai and  Bangalore and  a rise  in  smaller cities  such  as  Ahmedabad, Bhopal, Hubli,   Dehradun, Sangli  etc.  Such  trends are  useful   indicators of  the  pattern of development, in our  country, which  in turn  helps  policy  makers and  administrators to  understand the  future focus  and   thrust areas   not  only  in  terms   of  housing provision, but all the associated infrastructure and civic amenities required, she said.          The Minister also spoke  about  how the results will  form useful  inputs, for the schemes being  run  by the Ministry of Housing and  Urban  Poverty Alleviation, such as Jawaharlal Nehru National Urban Renewal Mission (JnNURM), Rajiv Awas Yojana (RAY), and  Rajiv Rinn Yojana (RRY) which  are focused on increasing housing supply for the urban poor  as the HSUI data  is comprehensive to the extent  of reflecting not only the exact locations, but also the size of dwelling units,  which  would help in  deciphering the  housing trends, including that  of the  urban poor,  which  in  turn  will  help  in framing and focusing on policy thrust areas, she said.              The  Minister appreciated the  efforts  of the  Director NBO,  and  his  team  of dedicated officers, without which  she said this index  would not have been released. She also  thanked the  Reserve  Bank of India  for their  collaboration and  for  being  co-developers of this  index  and  said  she  looked  forward to  further support from  the RBI to take  this  up  further to ensure the scalability, stability and sustainability of this index.              Dr Vyas also  urged all the  policy  makers, technocrats, bureaucrats and academicians, to reflect  and  brain  storm,  then  if required iterate  and  revalidate the methodology adopted in formulation of this index.

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