India

Latest Budget Announces One Crore Houses For Urban Poor

Presenting her 7th consecutive budget in Parliament, Finance Minister announced that Indian government is prepare to allocate 2.2 lakh crore for urban housing with 10 lakh crore interest subsidy in flagship scheme of Pradhan Mantri Awas Yojana.

This will strengthen the government’s initiative 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,” FM Sitharaman said in her Budget Speech in Parliament.

She also brought up the first Cabinet decision of the Modi 3.0 term, stating that PMAY will enable the construction of three crore more dwellings, of which two crore will be in rural regions (Grameen).

Also Read: Chidambaram Claims Budget Copies Congress Manifesto Ideas

One of the most ambitious programs of the Modi administration is the Pradhan Mantri Awas Yojana (PMAY).

In the most recent budget announcement, the Pradhan Mantri Awas Yojana-Urban (PMAY-U) was significantly expanded in terms of allocation.

The Finance Minister had suggested that two crore more dwellings be taken up in the following five years in the Interim Budget 2024. The government stated that they were almost attained the goal of three crore residences under this initiative.

The allocation for PMAY was enhanced by 66 percent to 79,000 crore.

Shibra Arshad

Recent Posts

India And Nigeria Strengthen Counter-Terrorism Cooperation In Second Strategic Dialogue

Doval and Ribadu held detailed talks on challenges linked to terrorism and radicalization, including those…

19 mins ago

Ola Electric’s Share Hits All-Time Low Of Rs 74 Ahead Of Q2 Results

Analysts predict that the stock could drop closer to the Rs 70 mark. Ola Electric…

1 hour ago

US Election: Voting Begins With First Ballots Cast In New Hampshire

This election is one of the most divisive in US history. Harris and Trump have…

2 hours ago

Waqf Bill: Opposition MPs Meet LS Speaker, Lodge Protest Against JPC Chairman Jagdambika Pal

Opposition members alleged that Pal calls JPC meetings without consulting them and restricts their opportunity…

2 hours ago

Delhi HC Rejects Khalid Saifi’s Plea To End Attempted Murder Case In 2020 Riots

The Delhi Police opposed Saifi’s bail, citing evidence from WhatsApp messages exchanged among the accused.…

3 hours ago

Maha Kumbh 2025: Uttar Pradesh Enhances Security With Face Recognition Cameras

To protect millions of devotees at Maha Kumbh, the UP govt is implementing advanced security…

3 hours ago