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Photo: File Budget 2025

Budget 2025: Finance Minister Nirmala Sitharaman has announced the new ‘Swami’ fund in her budget speech on Saturday. The Finance Minister said that a new ‘Swami’ fund of Rs 15,000 crore will be created to complete one lakh units in housing projects. The objective of this scheme is to provide relief to the home buyers whose possession of the house is stuck. The Center announced a fund named Swami to complete the having housing projects stalled in November 2019.

Bane Swami Fund-2

This fund is managed by SBICap Ventures Limited, a company of State Bank of India Group. Sitharaman announced Swami Fund-2 after the success of the first fund in his budget speech. The Finance Minister said that 50,000 housing units have been completed in the stressed housing projects under Swami Fund-1 and the keys have been handed over to home buyers.

This year 40,000 units will be completed

The Finance Minister said that 40,000 more units will be completed in the year 2025, which will help the middle class families. These families were paying EMI on home loans. Also your current

He was also paying the rent of the house. Sitharaman said, “On the basis of this success, Swami Fund-2 will be set up as a mixed finance facility with the contribution of government, banks and private investors.” The target of this fund of Rs 15,000 crore will be set. One lakh units have to be completed fast.

(With PTI/language input)

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