PM Awas Yojana
Everyone dreams of owning their own house, but due to poor economic conditions in rural areas, it is very difficult to fulfil this dream. This is the reason why Poonam Kumari, who lives in Badaun, has been living in a kutcha house for a long time. Due to their low income, it is not possible for them to build a permanent house. Now they are only hoping for Pradhan Mantri Awas Yojna (Rural). However, this hope of Poonam may be fulfilled in the budget that will be released for the financial year 2024-25. In fact, according to a Reuters report, two government sources say that state subsidies for rural housing could be increased by 50% from last year to over $6.5 billion.
Target of construction of 2 crore additional houses.
To improve the living standards of villagers, the Central Government is implementing the Pradhan Mantri Awas Yojana (Rural) scheme. Under this scheme, over 2.6 crore houses have been provided with solid roofs for rural families in the last eight years. The government will construct an additional 2 crore houses in villages in the coming years, which may be announced in this year’s budget. According to a Reuters report, Rs 4 lakh crore will be spent on this item in the coming years. For this, the housing subsidy will be increased. According to sources, if approved, it will mark the highest annual increase in spending on the rural housing programme since 2016.
Reason for the increase in subsidy
Due to rising inflation, housing construction has also been affected. Prices of bricks and cement have increased significantly. Taking into account the ever-increasing cost of raw materials, the Ministry of Rural Development has proposed to increase the subsidy. According to it, the state subsidy should be increased from Rs 120,000 to approximately Rs 200,000 per housing unit.
This announcement was made last month.
After the formation of the central government last month, the Modi government’s cabinet had announced assistance for the construction of 3 crore houses in rural and urban areas. However, no financial information was shared in this regard.
