PROMOTION OF GREEN AND AFFORDABLE HOUSING AND ALLIED SECTORS IN INDIA: FOR THE FASTER AND SUSTAINABLE ECONOMIC DEVELOPMENT IN THE DIGITAL ERA

Abstract

Housing is one of the most essential pre-requisites of human life and is second only to the need for food. So, providing this vital need of citizens is being accorded the topmost priority by the Governments worldwide and India is no exception. In India, in particular, ‘Affordable Housing for All’ has been the country’s national goal, ever since 2017. Though India had sought to attain the goal in 2022 – the year when it attained 75 years since independence in 1948, the country could not attain the goal because of Covid-19 pandemic problem and other reasons. Right now, India is trying to attain this goal at least by the year 2025. In this context, it may be noted that the ‘Real Housing Problem’ in India is the housing problem of the poor and the marginalized – those in Low Income Group (LIG) and Economically Weaker Sections (EWS).Thus, a focused approach to address their housing problem is essential to attain the national housing goal in India. Besides, in order to ensure sustainability of the housing development, it is inevitable that ‘Green’ or environment-friendly materials, processes and technologies are employed for housing development. The obvious benefits of housing investments include the personal wellbeing of the members of the households including greater productivity and also their socio-economic empowerment like higher social status. Over and above these, investment in housing accelerates economic development of the whole economy because housing sector has got linkages, both forward and backward, with more than three hundred allied industries. Investments in such allied sectors (e.g. tourism and hospitality) is also good for the economy. In this context, this paper analyses the significance of promotion of Green and Affordable housing for the faster economic development of India, when the national goal of the nation is ‘Affordable Housing for All’.