Prime Minister Awas Yojana (PMAY)
Why in news:
- The Union Budget presented on Wednesday increased the allocation for the Prime Minister Awas Yojana (PMAY) by 66%.
- It indicates the huge boost and priority of the government in providing affordable housing to eligible beneficiaries.
- Finance Minister Nirmala Sitharaman also announced an Urban Infrastructure Development Fund (UIDF), which will be used to create urban infrastructure in Tier 2 and Tier 3 cities.
- PMAY was allocated over ₹79,000 crore this fiscal as compared to last year’s ₹48,000 crore.
More about PMAY scheme:
- Pradhan Mantri Awas Yojana(PMAY) is an initiative by the Government of India in which affordable housing will be provided to the urban poor with a target of building 2 crore (20 million) affordable houses by 31 March 2022.
- The scheme was launched in 2015 with the objective of providing affordable housing to all citizens.
- The scheme was created to assist the middleincome community, economically disadvantaged groups and lowincome groups.
- It has two components: Pradhan Mantri Awas Yojana(Urban)(PMAY-U) for the urban poor and Pradhan Mantri Awas Yojana (Gramin) (PMAY-G or PMAY-R) for the rural poor.
- This scheme is converged with other schemes to ensure houses have a toilet, Saubhagya Yojana electricity connection, Ujjwala Yojana LPG connection, access to drinking water and Jan Dhan banking facilities, etc.
- The houses under Pradhan Mantri Awas Yojana would be constructed through a technology that is eco-friendly.
- While allotting ground floors in any housing scheme under PMAY, preference will be given to differently abled and older persons.
- The Ministry of Rural Developmentis implementing Pradhan Mantri Awas Yojana- Gramin (PMAY-G).
Components under PMAY(U):
- Pradhan Mantri Awas Yojana – Urban (PMAY-U), a flagship Mission of Government of India being implemented by Ministry of Housing and Urban Affairs (MoHUA).
More about Urban Infrastructure Development Fund (UIDF):
- The UIDF will be established through the use of priority sector lending shortfall.
- This will be managed by the National Housing Bank, and will be used by public agencies to create urban infrastructure in Tier 2 and Tier 3 cities.
- The Centre will allocate ₹10,000 crore per year for the fund.
Syllabus: Prelims; Government Schemes in news
