Extension of PMAY-Urban till 2024

August 12, 2022

On august 10, Union Cabinet extended the Pradhan Mantri Awas Yojana (Urban) till December, 2024. This scheme was launched for the period of 2015-2022.

Highlights:

The scheme was launched in June 2015 with the aim of providing pucca houses to all eligible beneficiaries in urban areas.
Original deadline was set as March 2022.
Now, the scheme has been extended till December 31, 2021 following the request of states and union territories.
Government will provide financial assistance for the completion of 122.69 lakh houses till March 31, 2022.

Four Pillars of the scheme:

Pradhan Mantri Awas Yojana (Urban) scheme is being implemented under four pillars-

Beneficiary Led Construction/Enhancement (BLC)
Affordable Housing in Partnership (AHP)
In-situ Slum Redevelopment (ISSR) and
Credit Linked Subsidy Scheme (CLSS)

This scheme has been extended because;

Union government had identified the problems associated with providing houses to eligible urban dwellers in saturation mode. Following this, PMAY-Urban was conceptualised. In 2017, there was a demand of 100 lakh houses against which 102 lakh houses are under construction. Out of these, 62 lakh houses have been completed. Of the sanctioned 123 lakh houses, demand for 40 lakh houses were received during last phase of the scheme. As a result, scheme has been extended further to meet the demand.

Central assistance for the scheme:

Under the scheme, Central government has provided an assistance of Rs 2.03 lakh crore since 2015, as compared to Rs 20,000 crore in 2004-2014. Till March 31, 2022, government has already released the assistance of Rs 1,18,020.46 crore. Another Rs 85,406 crore will be provided till December 31, 2024.

« Previous Post Next Post »