Tuesday, Union Finance Minister Nirmala Sitharaman proposed a Rs 10 lakh crore interest subsidy program and an allocation of Rs 2.2 lakh crore for urban housing in the flagship Pradhan Mantri Awas Yojana (PMAY) program.
This will give further driving force to the taxpayer supported initiative’s to give reasonable lodging.
“Lodging requirements of one crore metropolitan poor and working class families to be tended to with a speculation of Rs 10 lakh crore, including the Focal help of Rs 2.2 lakh crore over the course of the following five years,” FM Sitharaman said in her Financial plan Discourse in Parliament.
She also mentioned the first Cabinet decision of Modi’s third term, which stated that the PMAY program would facilitate the construction of three crore additional houses, of which two crore would be in rural areas (Grameen).
The Modi administration’s Pradhan Mantri Awas Yojana (PMAY) is one of its most ambitious programs. The Pradhan Mantri Awas Yojana-Urban (PMAY-U) allotment in the most recent budget announcement represents a significant expansion.
The Finance Minister had suggested that two crore more homes would be purchased within the next five years in the Interim Budget 2024.
Under this plan, the public authority guaranteed that they were near accomplishing the objective of three crore houses. The Pradhan Mantri Awas Yojana received an increase of 66% last year, reaching over Rs 79,000 crore.
