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The Central government is ready to launch Phase 2 of the SWAMIH Fund after completing Phase 1. "We are launching Phase 2 after completing Phase 1. Rs 10,037.5 crores have been spent in Phase 1 of the SWAMIH Fund, which was launched in 2019. Final closure for this phase was achieved in December 2022," said Union Finance Minister Nirmala Sitharaman in Lok Sabha on Monday.
She noted that the second phase is currently ongoing to provide solutions for stalled housing projects and offer redressal to the middle-income group. Providing details on the Special Window for Completion of Construction of Affordable and Mid-Income Housing Projects (SWAMIH), the Finance Minister stated that 63,200 units have been completed to date out of a total portfolio of 1.14 lakh homes targeted for completion. She noted that because Phase 1 successfully achieved its goals, the second phase was initiated to address the remaining inventory of stalled homes. The Minister emphasised that the intention is to complete as many projects as possible to assist the middle-income group, which she described as being "severely affected." Minister Sitharaman also discussed the Corporate Laws (Amendment) Bill, 2026, which reached the House after two years of full deliberation. She confirmed that the recommendations of the Company Law Committee (CLC) and its reports were fully taken on board. Nirmala Sitharaman said, "The Corporate Laws (Amendment) Bill, 2026, has now come here after two years of full deliberation. The recommendations of the Company Law Committee (CLC) and its reports have been fully taken on board. CLC had representatives from industry chambers and professional institutes, legal and accounting experts. The report was also placed on the website for public comments, and comments were received and then examined." The move comes as the second leg of the Budget session of Parliament resumes. Alongside the Corporate Laws (Amendment) Bill, the Finance Minister is also slated to move the Finance Bill, 2026, which outlines the financial proposals of the Central Government for the 2026-27 fiscal year, for consideration. (ANI)
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