Modi govt pledges Rs 18,000 crore additional outlay for PMAY-Urban
The Modi government has announced an additional outlay of Rs 18,000 crore for the Pradhan Mantri Awas Yojana (Urban) Mission. According to the Ministry of Finance, this will help ground 12 lakh houses and complete 18 lakh houses.
In addition, it will create 78 lakh jobs and improve production and sale of steel and cement, resulting in multiplier effect on economy.
"A sum of Rs 18,000 crore is being provided for PMAY- Urban over and above Rs 8000 Crore already allocated this year," Finance Minister Nirmala Sitharaman said on Thursday while announcing measures on AatmaNirbhar Bharat 3.0.
The Pradhan Mantri Awas Yojana was launched in 2015, a year after BJP formed the government under the leadership of Narendra Modi. The scheme intends to provide housing for all in urban areas by year 2022 with all basic amenities. The government has set a target of building two crore affordable houses by 2022.
The government is working on to deliver on Prime Minister Narendra Modi's promise to provide a house for every Indian to mark 75 years of independence in 2022. According to the government data, 108.01 lakh houses have been sanctioned so far while 66.86 lakhs have been grounded. The government has successfully completed the construction work of 38.15 lakh houses.
