Modi 3.O Cabinet: The NDA government plans to approve 2 crore more houses under the Pradhan Mantri Gramin Awas Yojana (PMAY-G) with higher assistance per beneficiary in its first 100 days.
Each beneficiary receives 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). The Centre is also expected to increase the assistance given to beneficiaries under PMAY-G by about 50 per cent.
Sources indicate that the Centre may raise the cost of building PMAY-G houses from Rs 1.2 lakh to Rs 1.8 lakh in the plains and from Rs 1.3 lakh to Rs 2 lakh in hilly areas.
The government will add 2 crore more houses to the 2.95 crore already sanctioned under PMAY-G since 2016. So far, 2.61 crore of these houses have been built.
The Centre and states split the expenses 60:40 for plain areas and 90:10 for North Eastern States, two Himalayan states, and Jammu & Kashmir. The Centre covers 100% of the costs for other Union Territories, including Ladakh.
Nirmala Sitharaman From The Cabinet Makes A Huge Promise
In the Interim Budget for 2024-25, Finance Minister Nirmala Sitharaman announced that 2 crore more houses will be built under PMAY-G in the next five years.
In her 2024-25 Budget Speech, Sitharaman stated that despite Covid-19 challenges, PMAY-G implementation continued, and the government was nearing the 3 crore house target. She announced that 2 crore more houses will be built in the next five years to accommodate the growing number of families.
The Finance Minister has allocated Rs 54,500.14 crore for PMAY-G for the 2024-25 financial year, nearly the same as last year’s allocation of Rs 54,487.00 crore.
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