The Kerala Cabinet on Wednesday (August 20, 2025) gave its in-principle approval for availing ₹1,500 crore as loan from the Housing and Urban Development Corporation Limited (HUDCO) for providing financial assistance to the LIFE Mission housing scheme.
Of this, ₹1,100 crore is meant for providing loan assistance for 1,27,601 houses which are under construction. ₹400 crore will be used for providing financial assistance to scheduled castes and scheduled tribes families in the LIFE list, the government said.
The loan will be availed through the Kerala Urban Development Finance Corporation (KUDFC). Half the amount will be made made available in the current fiscal and the remaining half in 2026-27.
Repayment will be done over a 15-year-period through deductions from the development funds of the local self-government institutions. The interest will be met by the State government through the Budget.
More than 50,000 senior citizens among the scheduled tribes (ST) will be eligible for an ‘Onam gift’ of ₹1,000 each, according to a decision taken by the Cabinet. In all, 52,864 members from the ST communities aged above 60, excluding service pensioners from the Union and State government services and quasi-government organisations, will be eligible. ₹5.28 crore will be sanctioned from the Chief Minister’s Distress Relief Fund for this purpose.
The Cabinet also decided to issue guidelines for issuing bonus to the employees of public sector institutions.
Published – August 20, 2025 05:13 pm IST
