URBAN DEVELOPMENT

Sujan Banerjee
HUDCO:

The Housing and Urban Development Corporation Limited, commonly referred to

as HUDCO, is a government-owned financial institution in India. HUDCO was
established in 1970 and is headquartered in New Delhi. Its primary objective is to
provide long-term finance for housing and urban infrastructure projects in India.
Here are some key points to note about HUDCO:

1. Objective: HUDCO's main objective is to facilitate housing and infrastructure

development in the country. It aims to provide financial assistance and promote
sustainable urban development.
2. Financing: HUDCO offers various financial products and services to support
housing and urban infrastructure projects. These include loans, grants, and technical
assistance to both government and private sector entities.
3. Target Beneficiaries: HUDCO primarily works with state governments, urban local
bodies, housing boards, and other organizations involved in urban development and
housing projects. It also supports private developers and institutions involved in
these sectors.
4. Housing: A significant focus of HUDCO is on social housing and affordable
housing initiatives. It provides funding for the construction of houses and
infrastructure in urban and rural areas, especially for economically weaker sections
of the population.
5. Sustainability: HUDCO places importance on sustainable and environmentally
friendly urban development. It promotes projects that adhere to green and eco-
friendly construction practices.
6. Source of Funds: The corporation raises funds from various sources, including the
issuance of tax-free bonds, loans from international organizations, and government
grants. It also generates revenue through the interest and repayments on loans it
provides.
7. Government Ownership: HUDCO is a wholly-owned government entity, which
means it operates under the Ministry of Housing and Urban Affairs in India.
8. Rating: The corporation has maintained a high credit rating, which makes it easier
for it to raise funds at competitive interest rates in the market.
9. Developmental Activities: Apart from providing financial assistance, HUDCO is
involved in various developmental activities, including capacity building, research,
and training programs related to urban development and housing.
10. Projects: HUDCO has been involved in a wide range of projects, including the
construction of affordable housing units, infrastructure development in urban areas,
and initiatives related to slum rehabilitation.

HUDCO plays a crucial role in facilitating the growth and development of urban
areas in India. Its focus on affordable housing and sustainable urban development
aligns with the government's efforts to improve living conditions and infrastructure
in urban areas while catering to the needs of all sections of society.
 SJSRY:

The Swarna Jayanti Shahari Rozgar Yojana (SJSRY) was a centrally sponsored
scheme implemented by the Indian government to alleviate poverty and promote
self-employment opportunities in urban areas. The scheme was launched in 1997 as
part of the Swarna Jayanti Shahari Rozgar Yojana. Here are some key points to note
about SJSRY:

1. Objective: The primary objective of SJSRY was to provide sustainable self-employment

and wage employment opportunities to the urban poor living below the poverty line. It
aimed to reduce poverty and unemployment in urban areas.
2. Target Beneficiaries: The scheme targeted individuals living in urban slums and below
the poverty line in towns and cities. It aimed to empower marginalized and economically
disadvantaged sections of the urban population.
3. Components: SJSRY had two major components:
 Urban Self-Employment Program (USEP): This component aimed to provide
financial assistance and training to individuals to help them set up their own
micro-enterprises and self-employment ventures.
 Urban Wage Employment Program (UWEP): This component focused on
providing wage employment opportunities to the urban poor through projects
like construction of community assets and infrastructure.
4. Funding: The scheme was a centrally sponsored one, with the central government
providing financial assistance to state governments to implement SJSRY at the local
level.
5. Financial Assistance: Under USEP, financial assistance was provided in the form of
subsidies and loans to help beneficiaries establish their businesses. The extent of
financial support depended on the nature of the enterprise and the economic
background of the beneficiary.
6. Training and Skill Development: SJSRY emphasized training and skill development for
beneficiaries to improve their employability and entrepreneurial capabilities. This
included both technical and business management training.
7. Monitoring and Evaluation: The scheme had a monitoring and evaluation system in
place to assess its effectiveness in achieving its objectives and ensuring that funds were
used efficiently.
8. Implementation: SJSRY was implemented through municipal bodies and other urban
local institutions, with the active involvement of non-governmental organizations
(NGOs) and community-based organizations.
9. Revisions and Integration: Over the years, SJSRY underwent revisions and integration
with other urban development and poverty alleviation programs. Some of its
components were integrated into the National Urban Livelihoods Mission (NULM) to
streamline efforts in urban poverty reduction and employment generation.

SJSRY was an important initiative to address urban poverty and unemployment in India
by providing support for self-employment and wage employment opportunities. It
aimed to enhance the economic prospects of marginalized urban populations,
contributing to their social and economic empowerment.