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

Hina Khan Hails 11 Years Of PM Modi’s Leadership; Highlights National Progress

As the nation marks 11 years under PM Modi's leadership, actress Hina Khan shares her…

5 hours ago

Subhash Ghai Hails PM Modi’s Transformative Vision For India

Subhash Ghai has praised PM Narendra Modi’s leadership for catalysing India’s growth and changing the…

5 hours ago

India & Central Asia Boost Rare Earth Cooperation At Delhi Meet

India and five Central Asian nations have agreed to deepen cooperation on rare earths and…

6 hours ago

PM Modi’s Beej Se Bazaar Tak Vision Reshapes Indian Agriculture

Prime Minister Modi has redefined Indian agriculture with the ‘Beej Se Bazaar Tak’ vision, transforming…

6 hours ago

EV Sales Cross 4% Mark In May; Signalling Steady Shift To Green Mobility

EV sales topped 4% of passenger vehicle retail in May 2025, signalling growing demand for…

7 hours ago

Self-Reliant Defence Industry Marks India’s Strategic Security Ascent

One year into Modi 3.0, reforms have reduced poverty, strengthened defence, and accelerated the digital…

7 hours ago