Finance Minister Nirmala Sitharaman on Tuesday presented the Budget for 2024-25 & made big annoucment for PMAY scheme.
Finance Minister Nirmala Sitharaman on Tuesday presented the Budget for 2024-25, her 7th straight presentation surpassing the record of former prime minister Morarji Desai. This is the first Budget during Prime Minister Narendra Modi-led government’s third term in office.
FM Nirmala Sitharaman have made important announcement related to the PM Awas Yojana. While presenting the Budget she said, ‘’3 crore homes in urban and rural areas under the PM Awas yojana – necessary allocations being made. Budget carries an allocation of over Rs 3 lakh crore for schemes benefitting women and girls.’’
PM Awas Yojana Allocation By Earlier Budget
In the Interim Budget 2024, the Finance Minister announced that 2 crore more houses will be taken up in the next 5 years. Under this scheme, the government claimed that they are close to achieving the target of 3 crore houses.
In the Budget 2023, for the Pradhan Mantri Awas Yojana was enhanced by 66% to over Rs.79,000 crore.
PM Awas Yojana
PM Awas Yojana (PMAY) is a centrally sponsored scheme by the Union and the State governments. Where in both the governments are supposed to financially contribute to it. The main objectives of the scheme included rehabilitation of slum dwellers with private developers’ participation and promotion of affordable housing for the weaker sections through Credit Linked Subsidy Schemes (CLSS).