The Department of Rural Development’s proposal to build additional two crore houses under the Pradhan Mantri Awas Yojana – Gramin (PMAY-G) has been approved by the Union Cabinet, which is chaired by Prime Minister Narendra Modi. This decision was taken on August 9th, 2024, and it will now extend the scheme to run from FY 2024–25 to FY 2028–29.
With the current unit support of Rs 1.20 lakh in plain areas and Rs 1.30 lakh in north eastern region states and hill states like Himachal Pradesh and Uttarakhand, as well as Union Territories like Jammu & Kashmir and Ladakh, the initiative seeks to build two crore new houses. This approval was confirmed by an official announcement.
PMAY-G’s Financial Expenditure
The budget for PMAY-G is Rs 3,06,137 crore. This comprises a Rs 1,00,281 crore state share and a central share of Rs 2,05,856 crore. It has been approved for the program to continue from April 2024 to March 2029.
As on March 31 of this year, any houses from the previous PMAY-G phase that are still unfinished will likewise be completed during FY 2024–2025 at the current rates. It is anticipated that approximately 10 crore people will profit from this effort.
PMAY-G Promises Inclusivity and Safety
The approval intends to assist persons who are homeless or residing in run-down or kutcha dwellings in building safe, secure homes with the necessities. For the beneficiaries, this will improve social inclusion, safety, and hygiene.
The PMAY-G program was initiated by the national government in April 2016 with the objective of building 2.95 crore residences with essential facilities by March 2024. The goal of achieving Housing for All in rural areas is continued with this new approval.
The program demonstrates the government’s dedication to enhancing rural India’s quality of life by offering high-quality housing options.