The Union Cabinet may approve the allotment of 2 crore additional houses under the Pradhan Mantri Awas Yojana-Gramin (PMAY-G) in its first meeting today. According to sources, the government is also likely to increase the assistance given to PMAY-G beneficiaries by about 50 percent.
This cabinet meeting is taking place a day after Narendra Modi took oath as the Prime Minister of India for the third time. PM Modi took the oath of office in a grand ceremony at Rashtrapati Bhavan on Sunday. Along with him, 72 ministers, including 11 ministers from NDA allies, also took the oath of office.
Affordable housing for all has been one of the key focus areas of the Modi government. In February this year, Union Finance Minister Nirmala Sitharaman had said that two crore more houses will be built under PMAY-G in the next 5 years to meet the growing demand.
Sitharaman said, “Despite the challenges due to Covid-19, the implementation of the Pradhan Mantri Awas Yojana (Gramin) continued and we are close to achieving the target of three crore houses. Two crore more houses will be built in the next five years to meet the requirement arising from the increase in the number of families.”
He also mentioned in his interim budget speech that a scheme targeting the middle class will be launched soon. He said that under this scheme, people living in rented houses, slums or unauthorized colonies can buy or build their own house.
In his Independence Day speech last year, PM Modi had said that the poor and middle class living in slums, chawls and unauthorized colonies and rented houses will soon be able to avail home loans from banks with relief in interest rates. He also mentioned that a scheme is in the works on the same.
