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Revamped PMAY 2.0
Context
The Indian government has announced a significant boost to the housing sector through a revamped version of the Pradhan MantriAwasYojana (PMAY). The fourth phase of Pradhan Mantri Gram SadakYojana (PMGSY) to connect 25,000 habitations with all-weather roads is announced.
About PMAY 2.0
- This initiative aims to address housing needs for poor and middle-class families in urban areas, with a massive budgetary allocation of Rs 10 lakh crore.
- Under PMAY 2.0, the government plans to benefit one crore families by providing affordable housing loans and interest subsidies.
- Additionally, provisions are being made to include an additional three crore houses under the scheme across rural and urban areas.
- The recent budget has allocated Rs 82,576.57 crore to the Ministry of Housing and Urban Affairs for 2024-2025, marking an 8.03% increase from the previous year.
About Pradhan MantriAwasYojana (PMAY)
Pradhan Mantri Gram SadakYojana (PMGSY)
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