Budget 2023 Expectations: There may be a big announcement on PM Awas Yojana, ₹ 40,000 crore allocation is expected
Budget 2023 Expectations: Big allocation can be seen for Pradhan Mantri Awas Yojana in the budget. According to the information received from the sources, a budget of more than 40 thousand crores can be kept for this.
- The budget for the next financial year 2023-24 will come on February 1.
- Preparation to spend Rs 40 thousand crore on PM Awas Yojana
- Government targets about 84 lakh houses in rural areas by 2024
New Delhi. Only a few days are left for the presentation of the Union Budget (Budget 2023). People of all sectors have a lot of expectations from the budget. At the same time, in the budget, the government can make some big announcements regarding the housing scheme. It is believed that the Pradhan Mantri Awas Yojana (PM Awas Yojana) urban and rural may have this huge budget allocation.
According to the officials associated with the scheme, the government can make huge allocations to both housing schemes. According to information received from sources to CNBC-Awaaz, the government will target about 84 lakh houses in rural areas by 2024. For this, a budget of more than 40 thousand crores can be kept. In this context, according to the exclusive information received from the sources, Pradhan Mantri Awas Yojana can get a big boost in the budget. Due to this, an allocation of 48 thousand crores was made by the government in the last year’s budget.
What is PM Awas Yojana (PMAY)
Let us tell you that the Pradhan Mantri Awas Yojana was started on June 25, 2015. This is a scheme of the Government of India whose aim is to provide houses to every poor at a low cost. The central government has a target of providing pucca houses to all the poor in the country by the year 2024.
The budget session is starting on January 31.
Significantly, this time the budget session of the Parliament will start on January 31, 2023, on which day President Draupadi Murmu will address the joint sitting of Lok Sabha and Rajya Sabha. The session will have 27 sittings and will continue till April 6. The first phase of the session will be from January 31 to February 14. After a break of about a month, the second phase of the budget session will start on March 12 and will continue till April 6.
Preparation to spend Rs 40 thousand crore on PM Awas Yojana
The Pradhan Mantri Awas Yojana (PMAY) is a government housing scheme in India that aims to provide affordable housing to low-income and economically weaker sections of society. The scheme involves the construction of affordable houses with basic amenities, such as water supply, sanitation, and electricity. The government has allocated a budget of Rs 40,000 crore (approximately $5.5 billion) for the implementation of the PMAY scheme. The funds will be used for the construction of houses, infrastructure development, and other related activities. The scheme is being implemented by the Ministry of Housing and Urban Affairs in partnership with state governments and other stakeholders.
The PMAY scheme was launched in 2015 by the Indian government with the goal of providing “Housing for All” by 2022. The scheme targets the economically weaker sections of society, including Scheduled Castes, Scheduled Tribes, and other marginalized communities. The scheme is being implemented in both urban and rural areas, with a focus on providing affordable housing to low-income families and slum dwellers.
The scheme provides financial assistance to eligible families for the construction of houses. The assistance is provided in the form of subsidies on home loans and grants for the construction of houses. The scheme also provides assistance for the upgradation of existing houses to make them more livable.
In addition to financial assistance, the scheme also focuses on infrastructure development, such as the construction of community toilets, and the development of basic amenities, such as water supply and sanitation. The scheme also includes provisions for skill development and employment generation to support the construction of houses under the scheme.
The implementation of the PMAY scheme is being monitored by a dedicated monitoring and evaluation system, which tracks the progress of the scheme and ensures that the funds are being used effectively. The scheme is expected to benefit a large number of families and contribute to the overall development of the housing sector in India.