HUDCO MoU with Rajasthan | 25 Jul 2024

Why in News?

Recently, Housing & Urban Development Corporation (HUDCO) Ltd signed a non-binding memorandum of understanding (MoU) with the Rajasthan government regarding financial assistance for housing and urban infrastructure projects.

Key Points

The MoU is a preliminary agreement between the parties to provide financial assistance for housing and urban infrastructure projects in Rajasthan up to Rs 1,00,000 crore over the next 5 years, subject to mutually agreed terms and conditions.

Housing & Urban Development Corporation (HUDCO)

HUDCO, a public sector company under the Ministry of Housing and Urban Affairs, focuses on building assets for the nation with a motto of "Profitability with Social Justice".
It emphasizes on addressing the housing needs of the Economically Weaker Sections (EWS) and Low-Income Groups (LIG).