Government Announces 3 Crore Additional Homes under PMAY
The Prime Minister, Shri Narendra Modi, has said that the decision of 3 crore additional rural and urban houses under Pradhan Mantri Awas Yojana (PMAY) underscores the government’s commitment to addressing the housing needs of our nation and ensuring that every citizen leads a better quality of life.
PM’s First Decision After Swearing-in
The PMO said after being sworn in as the Prime Minister for the 3rd time, Modi signed his first file authorizing the release of the 17th installment of PM Kisan Nidhi. Both decisions were taken before the official announcement of portfolios to newly inducted ministers, showing the Prime Minister’s imprimatur on issues related to farmers and the poor.
Increased Assistance for PMAY-G Beneficiaries
Under the PMAY-G, each beneficiary gets funds up to Rs 1.2 lakh in the plains and Rs 1.3 lakh in hilly states, difficult areas, and tribal and backward districts under the Integrated Action Plan (IAP). It is also learnt that the Centre has decided to increase the assistance provided to the beneficiaries under the PMAY-G by about 50 percent.
The sources said the Centre has decided to increase the cost of construction of the PMAY-G house from the existing Rs 1.2 lakh to Rs 1.8 lakh in the plains and Rs 1.3 lakh to Rs 2 lakh in the hilly areas.
Additional Homes Over and Above Existing Targets
These additional 2 crore PMAY-G houses will be over and above the 2.95 crore houses sanctioned under the rural scheme since its inception in 2016. Of these 2.95 crore, 2.61 crore have been built under the PMAY-G till date.
Centre-State Cost-Sharing
The Centre and states share expenses in a 60:40 ratio in case of plain areas and a 90:10 ratio for northeastern states, two Himalayan states, and the UT of Jammu and Kashmir. The Centre bears 100 percent cost in case of other Union Territories, including the UT of Ladakh.
Interim Budget Announcement and Future Targets
Presenting the Interim Budget for 2024-25, Finance Minister Nirmala Sitharaman had announced that 2 crore more houses will be built under PMAY-G in the next five years. In her budget speech 2024-25, Sitharaman said despite the challenges due to Covid-19, implementation of PM Awas Yojana (Gramin) continued, and the government was close to achieving the target of 3 crore houses.