Finance Minister Nirmala Sitharaman announcing the interim budget 2024-25 on Thursday revealed plans for the construction of an additional 2 crore houses under the Pradhan Mantri Awas Yojana (Gramin) over the time span of the upcoming five years.
FM Sitharaman highlighted that despite the challenges posed by the COVID-19 pandemic, the implementation of Pradhan Mantri Awas Yojana (PMAY) continued.
"Two crore more houses will be taken up in the next five years to meet the requirement arising from the increase in the number of families," the union minister said while outlining the government's commitment in the context of the impending elections.
What is PMAY:
The Pradhan Mantri Awas Yojana (Gramin) is a social welfare program aimed at providing housing for the rural poor in India.
Under this scheme, assistance of Rs 1.20 lakh is provided in plain areas and Rs 1.30 lakh in hilly areas. The financial burden of the scheme is shared by the central government and the state government in a 60:40 ratio.
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