Modi's Cabinet Approves Massive Housing Push | Fusion - WeRIndia

In his first Cabinet meeting of the third term, Prime Minister Narendra Modi approved a significant expansion of the Pradhan Mantri Awas Yojana (PMAY), targeting the construction of three crore rural and urban houses.

The decision aims to address the growing housing needs due to an increase in eligible families.

Out of the three crore houses, two crore will be built under PMAY-Gramin and one crore under PMAY-Urban.

Modi announced the Cabinet’s decision on X, highlighting it as a major step towards promoting a dignified life. He stated that the government has decided to expand PMAY to build three crore new houses in both villages and cities.

Additionally, the Cabinet plans to increase financial assistance to PMAY-G beneficiaries. Each beneficiary currently receives up to ₹1.2 lakh in plains and ₹1.3 lakh in hilly areas.

The new proposal increases assistance to ₹1.8 lakh in plains and ₹2 lakh in hilly regions.

This year’s expansion builds on the 2.95 crore houses sanctioned under PMAY-G since its inception in 2016, with 2.61 crore already completed.

The Centre and states share expenses in a 60:40 ratio for plain areas and 90:10 for northeastern states, Himalayan states, and Jammu and Kashmir. The Centre fully funds the program in other Union Territories, including Ladakh.

On the same day, Modi signed his first file of the term, authorizing the release of the 17th instalment of PM Kisan Nidhi, benefiting 9.3 crore farmers with ₹20,000 crore. Modi emphasized the government’s commitment to farmer welfare.

These decisions were made prior to the announcement of portfolios for newly inducted ministers.

Later, Shivraj Singh was appointed as the Union Minister for Agriculture and Rural Development.

Finance Minister Nirmala Sitharaman, during the Interim Budget 2024-25, announced the construction of two crore more houses under PMAY-G in the next five years, despite challenges posed by the COVID-19 pandemic.

The government is close to achieving the target of three crore houses under PMAY-G, reinforcing its commitment to housing for all.

Image Credit: Rajesh Unuppally, CC BY-SA 3.0, via Wikimedia Commons

Image Reference: https://commons.wikimedia.org/wiki/File:Ishtika_House_Construction_-_Saradas.jpg