By In a significant announcement, Finance Minister Nirmala Sitharaman declared that the construction of two crore additional houses will be undertaken under the Pradhan Mantri Awas Yojana (Gramin) in the coming five years. This announcement was made during the presentation of a vote on account or interim budget for 2024-25 in New Delhi.
PMAY Implementation Amid Challenges
Despite the challenges posed by the COVID-19 pandemic, Sitharaman emphasized that the implementation of the Pradhan Mantri Awas Yojana (PMAY) has persisted. She highlighted that the scheme’s objective of constructing three crore rural houses is on the brink of accomplishment.
“Despite the challenges due to COVID-19, the implementation of the Pradhan Mantri Awas Yojana (Gramin) continued, and we are close to achieving the target of three crore houses,” Sitharaman stated.
Addressing Housing Needs
Sitharaman underscored the necessity to address the growing housing requirements of families across rural India. In response, the government plans to initiate the construction of two crore additional houses over the next five years to cater to this demand.
Pradhan Mantri Awas Yojana (Gramin)
The Pradhan Mantri Awas Yojana (Gramin) is a pivotal social welfare initiative aimed at providing housing for the rural poor in the country. Under this scheme, eligible beneficiaries receive financial assistance of Rs 1.20 lakh in plain areas and Rs 1.30 lakh in hilly regions. The funding for the scheme is shared between the central government and the respective state government in a 60:40 ratio.