New Delhi: In an effort to appeal to the middle-class before the upcoming general elections Finance Minister Nirmala Sitharaman announced a new program on Thursday aimed at helping individuals who currently live in rented homes or slums fulfill their dream of owning a house. To stay updated on coverage of the Union Budget 2024 keep an eye out for our updates.
During the presentation of the vote on account for 2024 25 which is often referred to as the budget until the new government takes office after the general elections Sitharaman emphasized the Modi governments commitment over a decade to inclusive development. This includes providing housing, water, electricity, cooking gas and bank accounts for everyone.
Sitharaman stated, "Our government is introducing a scheme specifically designed to assist deserving segments of the class who live in rented homes, slums, chawls and unauthorized colonies to purchase or build their own houses."
Additionally Sitharaman highlighted that despite facing challenges due to Covid 19 circumstances there has been unwavering dedication towards implementing PM Awas Yojana (Grameen).
"Despite Covid related obstacles " said Sitharaman " we have persevered with PM Awas Yojana (Grameen). Are close, to achieving our target of three crore houses.""Over the five years we plan to initiate an additional twenty million houses to accommodate the growing number of families " she explained.
To achieve our goal of providing 'Housing for All' in areas the Ministry of Rural Development has been implementing the Pradhan Mantri Awaas Yojana Gramin (PMAY G) since April 1 2016. This program aims to provide aid to rural households.
Our ultimate objective is to construct 29.5 million houses with essential amenities by March 2024. The central assistance under PMAY G is directly disbursed to each State/Union Territory as an unit and then distributed by the respective State Government/UT Administration at the District/Block/GP level.
According to a statement in December approximately Rs 1,60,853.38 crore has been released as Central Share funds to States/UTs for housing construction, under PMAY G from the financial year 2018 19 till 2022 23.
