Kerala Cabinet's Bold Move: Rs 1,500 Crore for LIFE Mission

The Kerala Cabinet approved a plan to raise Rs 1,500 crore from HUDCO for the state's LIFE Mission housing scheme. This loan will support the construction of 1,27,601 houses and aid marginalised communities. Additionally, cash gifts and bonuses were discussed and approved in the recent Cabinet meeting.

Devdiscourse News Desk | Thiruvananthapuram | Updated: 20-08-2025 19:39 IST | Created: 20-08-2025 19:39 IST

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The Kerala Cabinet has taken a significant step by approving a plan to secure Rs 1,500 crore from the Housing and Urban Development Corporation (HUDCO). This financial maneuver is aimed at bolstering the state's LIFE Mission housing scheme, which targets providing shelter for landless and homeless families in Kerala.

The loan, divided into two tranches of Rs 750 crore each for 2025-26 and 2026-27, aims to offer financial aid for 1,27,601 houses currently under construction. It also focuses on supporting Scheduled Caste and Scheduled Tribe families. The repayment is planned over 15 years, with the government covering interest through budget allocations.

In addition to housing, the Cabinet approved a Rs 1,000 cash gift for 52,864 Scheduled Tribe members over 60 as part of the 2025 Onam celebrations. Pensioners from government institutions are excluded. Guidelines will also be developed for PSU employee bonuses based on industry recommendations.

(With inputs from agencies.)