MP govt to double car and housing loan limit for MLAs

The Madhya Pradesh government is set to double the car and housing loan facilities available to its MLAs. Currently, legislators can avail car loans up to ₹15 lakh and home loans up to ₹25 lakh at a subsidised 4% interest rate, with the government bearing the difference from market rates.

Under a new proposal approved by the state finance department, MLAs will now be eligible for car loans up to ₹30 lakh and housing loans up to ₹50 lakh. However, for amounts exceeding the previous thresholds (₹15 lakh for cars and ₹25 lakh for homes), the government will provide only a 2% interest subsidy; the rest will be borne by the borrower.

The proposal, framed by the parliamentary affairs department, is expected to be presented before the cabinet for final approval.


The move comes amid revelations that over 204 out of 240 MLAs in the current assembly have assets exceeding ₹1 crore, and around 100 MLAs own assets worth over ₹5 crore.