In budget 2022, the government announced ₹48,000 crore towards the scheme, with ₹28,000 crore for houses in urban areas, and the remaining amount for structures in rural areas.
In Union budget 2023, which finance minister Nirmala Sitharaman will present in Lok Sabha on February 1, the Centre is likely to announce an outlay of ₹40,000 crore towards the Pradhan Mantri Awas Yojana (PMAY), according to a report in HT’s sister publication Live Hindustan.
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As per the report, the Centre may give itself a target of 84 lakh houses to sanction till 2024, and for this, ₹40,000 crore will be given in the budget. The upcoming budget is the last full one of the Modi government before parliamentary elections in April-May 2024; therefore, the government will speed up the process of allotting houses in both rural and urban areas, the report said.
A total of ₹48,000 crore were provided towards the scheme in last year’s budget, with ₹28,000 crore for houses in urban areas, and the remaining amount for structures in rural areas.
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Pradhan Mantri Awas Yojana
A flagship mission of the Government of India, the PMAY was launched in June 2015, with an aim to address the housing shortage among the EWS/LIG and MIG categories. The scheme is implemented by the Ministry of housing and urban affairs.
Its objective was to provide ‘pucca’ accommodations to those eligible, by March 2022, with it being the 75th year of Independence. Now, however, it stands extended till December 31, 2024.
