TFP Bureau, New Delhi, August 9, 2024: In a decisive move to improve rural housing, the Union Cabinet, under the leadership of Prime Minister Shri Narendra Modi, has approved the continuation of the Pradhan Mantri Awaas Yojana – Gramin (PMAY-G) for the fiscal years 2024-25 to 2028-29. This extended phase of the scheme will facilitate the construction of an additional two crore houses, providing crucial support to rural households.
Key Details of the Approval:
Financial Outlay: The scheme will see a total expenditure of Rs. 3,06,137 crore over the five-year period. This includes a Central Share of Rs. 2,05,856 crore and a State Matching Share of Rs. 1,00,281 crore.
Unit Assistance: Financial aid will continue at the existing rates of Rs. 1.20 lakh for plain areas and Rs. 1.30 lakh for North Eastern Region States and Hill States, including Himachal Pradesh, Uttarakhand, Jammu & Kashmir, and Ladakh.
Administrative Funds: Administrative costs are set at 2% of the program funds, with 1.70% allocated to States/UTs and 0.30% retained at the Central Level.
Completion of Previous Phase: The scheme will also address the completion of the 35 lakh houses from the previous phase by March 31, 2024.
Benefits:
The new phase aims to complete the construction of two crore additional houses by March 2029, benefiting nearly 10 crore individuals. The initiative will address housing needs that have arisen over the years, ensuring safe, secure, and well-equipped homes for those currently living in dilapidated or inadequate housing.
Background:
Launched in April 2016, the PMAY-G was initially aimed at constructing 2.95 crore houses with basic amenities in rural areas by March 2024. The extension of the scheme underscores the government’s commitment to achieving “Housing for All” and improving the living conditions in rural India.
The extension of the PMAY-G will play a critical role in advancing rural infrastructure and enhancing the quality of life for millions of rural residents.
