Pradhan Mantri Awas Yojana: On August 9, the Cabinet has approved the implementation of Pradhan Mantri Awas Yojana Gramin (PMAY) from 2024-25 to 2028-29.
Pradhan Mantri Awas Yojana 2024-25: On August 9, the Cabinet has approved the implementation of Pradhan Mantri Awas Yojana Gramin (PMAY) from 2024-25 to 2028-29. Under this, financial assistance will be provided for the construction of houses at the existing unit assistant of Rs 1.2 lakh in the plains and Rs 1.3 lakh in the states of the North-East region and the hilly states of Himachal Pradesh, Uttarakhand, Union Territories of Jammu and Kashmir and Ladakh.
According to this scheme, two crore more houses will be built during the next five years, which is expected to benefit 10 crore people. For this, a total expenditure of Rs 3,06,137 crore has been fixed from 2024-25 to 2028-29, which includes a central share of Rs 2,05,856 crore and a state share of Rs 1,00,281 crore.
The government said in a press release that the construction of the remaining 35 lakh houses not completed by March 31, 2024 will be completed, so that the target of 2.95 crore houses of the previous phase can be achieved.
1 crore houses 1 crore houses in urban areas
The Cabinet also approved Pradhan Mantri Awas Yojana-Urban (PMAY-U) 2.0, under which financial assistance will be provided to 1 crore urban poor and middle class families to build, buy or rent houses at affordable cost in urban areas in the next five years.
Union Minister Ashwini Vaishnav said, “In the last 10 years, 4 crore houses have come under the Pradhan Mantri Awas Yojana, a huge social change has come across the country. Detailed discussions have been held on the implementation of 3 crore more new houses. The budget provision for this will be Rs 3,60,000 crore. 2 crore houses will be in rural areas and 1 crore houses in urban areas.”
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