The Minister of Minority Affairs, Smt. Smriti Zubin Irani in a written reply to a question in the Rajya Sabha today informed that this Ministry implements Shahari Waqf Sampatti Vikas Yojana (SWSVY) through Central Waqf Council (CWC). Under SWSVY, interest free loan is provided to Waqf Institutions/Waqf Boards for taking up economically viable projects on the urban waqf land such as commercial complexes, marriage halls, hospitals, cold storages etc. The annual Grants-in-aid released under the Scheme between 2017-18 to 2021-22 is Rs. 316.00 lakh, 316.00 lakh 316.00 lakh, 300.00 lakh and 100.00 lakh respectively.
The grants and subsequent instalments are released after ascertaining the viability of the project in accordance with the scheme guidelines, receipt of Utilization Certificate (UC) and satisfactory progress Report from the concerned Waqf Institution/ Waqf Board. As on date, total 4 applications are pending amounting to Rs. 487.25 lakh.