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The Indian government is set to roll out a ₹60,000 crore home loan subsidy initiative, offering annual interest subsidies ranging from 3% to 6.5% on loans up to ₹9 lakh. Geared towards aiding 25 lakh low-income urban home seekers over 5 years, the scheme targets those residing in rented accommodations, slums, and unauthorized colonies. It covers home loans under ₹50 lakh for a 20-year period, with the subsidy directly credited to beneficiaries' loan accounts. Pending final approval from the Union Cabinet, this program aims to alleviate housing challenges for struggling urban families.