NEW DELHI: Finance Minister Nirmala Sitharaman announced an ambitious plan to construct 2 crore new rural houses in the next five years under the Pradhan Mantri Awas Yojana Gramin (PMAY-G) scheme. This initiative aims to address the growing housing demand arising from the increasing number of families in India.
While presenting the interim budget in the Lok Sabha, Sitharaman acknowledged the challenges posed by the COVID-19 pandemic, but also highlighted the government's near-achievement of the existing target of building 3 crore rural houses under PMAY-G.
"Despite the challenges of the pandemic, PM Awas Gramin Yojana's implementation continued. We are close to achieving the target of three crore houses," she stated. "And two crore more houses will be taken up in the next five years to meet the requirements arising from the increase in the number of families."
This expansion of PMAY-G signifies the government's commitment to providing affordable and pucca housing solutions to rural residents. The scheme offers financial assistance to eligible beneficiaries, along with technical guidance and subsidies for construction materials.
The success of PMAY-G in recent years has been commendable, with over 2.7 crore houses already sanctioned and nearly 1.9 crore completed. The additional 2 crore houses planned under this renewed initiative will further contribute to improving the living standards and well-being of rural communities across the country.
It is important to note that the allocation for PMAY-G in the interim budget has not been explicitly mentioned. However, experts anticipate a significant increase in the budget allocation to support the construction of these additional houses.
The expansion of PMAY-G is expected to have a positive impact on the rural economy by creating job opportunities in the construction sector and boosting the demand for building materials. Moreover, it will contribute to achieving the government's vision of "Housing for All" by ensuring that every family has access to safe and secure housing.