Modi 3.0 Cabinet Approves Construction of 3 Crore Additional Houses Under PMAY
The newly formed Modi 3.0 cabinet, chaired by Prime Minister Narendra Modi, has approved the proposal to provide assistance for the construction of 3 crore additional rural and urban houses under the Pradhan Mantri Awas Yojana (PMAY). This decision was made during the first meeting of the Union Cabinet of the Modi 3.0 government, which was attended by ministers from all allies of the National Democratic Alliance (NDA).
The Pradhan Mantri Awas Yojana (PMAY) is a flagship housing scheme of the Government of India. The scheme was launched on 25th June 2015 with the objective of providing affordable housing to all eligible families in urban and rural areas.
Under the PMAY, the government provides financial assistance to eligible families for the construction or purchase of new houses. The assistance is provided in the form of a subsidy, which ranges from 20% to 40% of the total cost of the house.
In addition to financial assistance, the PMAY also provides technical assistance to beneficiaries. The assistance is provided through a network of technical support units, which are located in all states and union territories.
The PMAY has been a success since its launch. As of March 2022, over 4.21 crore houses have been completed under the scheme. The government has set a target of constructing 3 crore additional houses under PMAY by 2024.
