Housing Scheme for Middle Class: Finance Minister Nirmala Sitharaman has made a big announcement in Budget 2024 for those middle class who do not have their own houses. Nirmala Sitharaman has said that the government will start a housing scheme (New Housing Scheme) for the eligible middle class to buy or build their own house. Finance Minister Nirmala Sitharaman announced in the interim Union Budget for 2024-25 that the government will launch a housing scheme for people living in rented houses as well as those living in slums or unauthorized colonies to buy or build their own houses. Will start.
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PM Awas Yojana: 2 crore new houses will be built
Finance Minister Nirmala Sitharaman said in the budget speech that 2 crore houses will be built in the next 5 years under PM Awas Yojana Gramin (PMAY-Gramin). He said that despite the challenges of Covid-19, the work of PM Awas Yojana Gramin continued and our government is close to achieving the target of 3 crore houses. Regarding the new scheme, Finance Minister Nirmala Sitharaman announced in the interim budget of 2024-25 that the government will start a housing scheme for the middle class living in rented houses to buy or build their own house. This scheme will also be available for people living in slums or unauthorized colonies.
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Boost to 'Housing for All' mission
This announcement is in line with the Modi government's larger 'Housing for All' mission, which includes the ongoing Pradhan Mantri Awas Yojana-Urban and Pradhan Mantri Awas Yojana-Gramin or rural schemes. Sitharaman said that 3 crore houses have been built under the PMAY-Gramin scheme. He said that to meet the demand for houses arising from the increase in the number of families, an additional 2 crore houses will be built in the next 5 years.
Allocation was increased in the last budget
With a focus on urban and affordable housing, the allocation for the Pradhan Mantri Awas Yojana was increased by 66 per cent in the Union Budget 2023 to Rs 79,000 crore for FY 2024. Of this, Rs 25,103 crore was allocated to PMAY-Urban to accelerate the 'Housing for All' mission, while the remaining was for PMAY-Rural scheme.