Did you anticipate the construction of 3 crore new homes in India in the upcoming years? Yes, this is going to be true! This big change is going to come in the new avatar of PM Awas Yojana. Let us know everything about this scheme. On 9 August 2024, Prime Minister Narendra Modi led a cabinet meeting that resulted in a significant decision. This decision mandates the construction of 3 crore new houses nationwide under the PM Awas Yojana within the next 5 years, specifically from 2024 to 2029. 9. The government will spend a total of Rs 3,06,137 crore for these houses.
Let’s examine the locations of these 3 crore homes:
The PM Awas Yojana will build 2 crore new houses in villages. Plains and hilly areas will host the construction of these houses. For every house in the plains, the government will provide assistance of Rs 1.20 lakh. Simultaneously, the government will provide assistance of Rs 1.30 lakh for each house in hilly areas such as Northeast, Himachal Pradesh, Uttarakhand, Jammu and Kashmir, and Ladakh.
We will build 1 crore new houses in cities.
The PM Awas Yojana will build 1 crore new houses in the urban part within the next 5 years. For this, the government will provide Rs 2.30 lakh crore assistance. The government will use this money to construct, purchase, and lease new houses.
Distribution of money
The government has arranged Rs 3,06,137 crore for this entire scheme. The central government will contribute Rs 2,05,856 crore, while the state governments will contribute Rs 1,00,281 crore. In 2024-25, we will also complete the houses that remained incomplete until March 31, 2024. Who will benefit? We expect this scheme to benefit about 10 crore people. That is, 10 crore people will get their own permanent house.
What is the PM Awas Yojana?
We started this scheme to provide affordable and permanent housing to every citizen of the country by 2022. The government has now extended the scheme for an additional five years. Under this scheme, the government gives permanent houses to people in both villages and cities.
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