Blitz Bureau
NEW DELHI: Union Finance Minister Nirmala Sitharaman proposed an allocation of Rs 2.2 lakh crore for housing of urban poor, along with a Rs 10 lakh crore interest subsidy scheme in the flagship Pradhan Mantri Awas Yojana (PMAY) scheme.
This will give further impetus to the government’s programme to provide affordable housing.
“Housing needs of one crore urban poor and middle-class families to be addressed with an investment of Rs 10 lakh crore, including the Central assistance of Rs 2.2 lakh crore over the next five years,” Sitharaman said.
She also mentioned the first Cabinet decision of Modi 3.0 term and said that the construction of three crore additional houses will be facilitated under the PMAY scheme of which two crore will be in the rural areas under PMAY (Grameen).
Pradhan Mantri Awas Yojana (PMAY) is among the most ambitious schemes of the Modi government. The allotment is a significant expansion of the Pradhan Mantri Awas Yojana-Urban (PMAY-U) in the latest budget announcement.
