Wooing the center class forward of the upcoming normal elections, Finance Minister Nirmala Sitharaman on Thursday introduced that the federal government will launch a housing scheme for many who reside in rented lodging or slums to purchase or construct their very own homes.
“Our Authorities will launch a scheme to assist deserving sections of the center class ‘residing in rented homes, or slums, or chawls and unauthorized colonies’ to purchase or construct their very own homes,” the Finance Minister stated in her interim Price range speech.
Highlighting the implementation of the Pradhan Mantri Awaas Yojana- Gramin (PMAY-G), the Finance Minister stated the federal government is near reaching the goal of three crore homes in rural areas regardless of the disruptions attributable to the COVID-19 pandemic. She stated the federal government will assist the development of two crore extra homes for the agricultural poor within the subsequent 5 years beneath the persevering with PMAY-G.
“Regardless of the challenges attributable to COVID, implementation of PM Awas Yojana (Grameen) continued and we’re near reaching the goal of three crore homes. Two crore extra homes might be taken up within the subsequent 5 years to fulfill the requirement arising from enhance within the variety of households,” the Finance Minister stated.
” ₹2 crore extra housing models within the subsequent 5 years beneath the PM Awas Yojana. New housing scheme for the center class is predicted for individuals residing in rented/chawls/unauthorised areas on lease to construct/purchase their very own home. These initiatives ought to considerably assist in plugging the general housing scarcity confronted by the nation,” Hindustan Occasions quoted Ravi Shankar Singh, Managing Director, Residential Transaction Providers at Colliers India, as saying.
It is very important observe that to realize the goal of ‘Housing for All’ in rural areas, the Ministry of Rural Growth is implementing PMAY-G with impact from 1st April 2016 to help eligible rural households. The PMAGY-G general goal is to assemble 2.95 crore pucca homes with fundamental facilities by March 2024.
The central help beneath PMAY-G is launched on to the State/UT contemplating the State/UT as a unit. The respective State Authorities/UT Administration additional releases these funds to beneficiaries in varied Districts/Blocks/ Gram Panchayats.
“The quantity of Central Share of funds launched to the States/UTs for building of homes beneath PMAY-G over the past 5 years, which is from the monetary 12 months 2018-19 to 2022-23 was round ₹1,60,853.38 crore,” an official launch acknowledged in December.
Right here’s your complete 3-minute abstract of all of the issues Finance Minister Nirmala Sitharaman stated in her Price range speech: Click on to obtain!
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Printed: 01 Feb 2024, 02:17 PM IST
Supply: Live Mint