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New Delhi, June 27 The Housing and Urban Poverty Alleviation Minister, Ms Kumari Selja, has pitched for creation of a ‘Housing Mortgage Guarantee Fund’, entailing a corpus of about Rs 15,000 crore. The fund could be conceptualised as part of the Rajiv Awas Yojana, sources said. While submitting a proposal in this regard to the Finance Minister for inclusion in the Budget, Ms Selja maintained that an initial allocation of Rs 225 crore could be adequate to set up the fund.

The Minister has also sought restructuring of HUDCO (Housing And Urban Development Corporation Ltd).

The Ministry has urged the Government to restructure HUDCO and permit it to float tax-free bonds to raise funds for housing institutions, sources said.

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