In a major push towards affordable housing, the Union Cabinet, led by Prime Minister Narendra Modi, approved government assistance for the construction of 3 crore (30 million) new houses under the Pradhan Mantri Awas Yojana (PMAY) scheme. This decision, announced during the first cabinet meeting of the Modi 3.0 government, aims to address the growing demand for housing among low-income families in both rural and urban areas.
The initiative will provide financial aid to beneficiaries under the two verticals of PMAY – Pradhan Mantri Awas Yojana Gramin (PMAY-G) for rural housing and Pradhan Mantri Awas Yojana Urban (PMAY-U) for urban housing. The specific distribution of the 3 crore houses between these two categories is expected to be 2 crore for PMAY-G and 1 crore for PMAY-U.
This expansion of PMAY is a significant step towards achieving the government’s goal of “Housing for All” and is expected to benefit a large number of eligible families. It is also seen as a potential boost for the affordable housing sector in India.
