The government extended support to the middle-class dream of owning a house as she announced a new housing scheme in the interim budget on Thursday while also expanding the purview of the existing rural housing scheme.
“Our government will launch a scheme to help deserving sections of the middle class living in rented houses or slums or chawls and unauthorised colonies to buy or build their own houses,” she said.
The government will target 20 million additional houses to meet the requirements of an increasing number of families, she said.
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The rural housing for all scheme – Pradhan Mantri Awas Yojana-Gramin (PMAY-G) – is nearing its completion target of 30 million households. Against a target of 29.5 million households, 25.6 million or 86% were complete, as of February 1.The ?50,650 crore allocation to PMAY-G’s for 2024-25 is almost double the ?28,174.5 crore spent in 2023-24 according to revised estimates.Also Read: What Sitharaman’s bahi khata had for Modi govt’s four focus areasTill now, ?3.28 lakh crore has been utilised under the rural housing scheme, whereas central assistance of ?1.56 lakh crore has been released for urban housing. The increased allocation for middle-class housing is also expected to provide a fillip to the urban housing programme, where progress has been slower, with just 8 million of 11.9 million houses completed.
“Our government will launch a scheme to help deserving sections of the middle class living in rented houses or slums or chawls and unauthorised colonies to buy or build their own houses,” she said.
The government will target 20 million additional houses to meet the requirements of an increasing number of families, she said.
Want to watch the highlights of Budget? Click Here
The rural housing for all scheme – Pradhan Mantri Awas Yojana-Gramin (PMAY-G) – is nearing its completion target of 30 million households. Against a target of 29.5 million households, 25.6 million or 86% were complete, as of February 1.The ?50,650 crore allocation to PMAY-G’s for 2024-25 is almost double the ?28,174.5 crore spent in 2023-24 according to revised estimates.Also Read: What Sitharaman’s bahi khata had for Modi govt’s four focus areasTill now, ?3.28 lakh crore has been utilised under the rural housing scheme, whereas central assistance of ?1.56 lakh crore has been released for urban housing. The increased allocation for middle-class housing is also expected to provide a fillip to the urban housing programme, where progress has been slower, with just 8 million of 11.9 million houses completed.
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“The programme/scheme announced in the interim budget is a great step for supporting the middle income group realise this aspiration,” said Dabashi’s Biswas, partner, Deloitte India.
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