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The Finance Ministry has given its approval to a Rs 60,000 crore interest subsidy scheme on home loans for the urban poor, according to sources. This scheme aims to provide affordable housing to the economically weaker sections and low-income groups. The subsidy will help reduce the monthly installments for home buyers and boost the real estate sector. Read more to know about this government initiative for the urban poor.

The Indian government is optimistic about achieving its budget targets for the current financial year. Finance Secretary T V Somanathan believes that the revenue, expenditure, and fiscal deficit assumptions are accurate. The growth rate in tax collections is higher than expected, and the government expects higher dividends from the RBI and banks. The government aims to control inflation through trade policy interventions and expects prices to moderate. However, there may be some changes in disinvestment receipts, and no additional allocations are planned for new production linked incentive (PLI) schemes.