PM Gramin Awas Yojana: Modi 3.0 Cabinet meeting may approve 2 crore additional houses under the scheme today

The Union Cabinet may approve the allocation of 2 crore additional houses under the Pradhan Mantri Awas Yojana-Gramin (PMAY-G) in its first meeting today. According to sources, the government is also likely to increase the assistance given to PMAY-G beneficiaries by about 50 percent.

This cabinet meeting is taking place a day after Narendra Modi took oath as the Prime Minister of India for the third time. PM Modi took the oath of office at a grand ceremony at Rashtrapati Bhavan on Sunday. Along with him, 72 ministers, including 11 ministers from NDA allies, also took the oath of office.

Affordable housing for all has been one of the key focuses of the Modi government. In February this year, Union Finance Minister Nirmala Sitharaman said that two crore more houses would be built under PMAY-G in the next 5 years to meet the growing demand.

Sitharaman said, "Despite challenges due to Covid-19, implementation of PM Awas Yojana (Gramin) continued and we are close to achieving the target of three crore houses. Two crore more houses will be built in the next five years to meet the requirement arising out of the increase in the number of families."

She also mentioned in her interim budget speech that a scheme targeting the middle class will be launched soon. She said that under this scheme, people living in rented houses, slums, or unauthorized colonies can buy or build their own houses.

In his Independence Day speech last year, PM Modi said that the poor and middle class living in slums, chawls, and unauthorised colonies and rented houses will soon be able to avail home loans from banks with relief in interest rates. She also mentioned that a scheme is in the works on the same.