Pradhan Mantri Awas Yojana (PMAY) is a flagship housing scheme launched by the Government of India in 2015 with the objective of providing affordable housing to the urban and rural poor by 2022, which was later extended. It aims to ensure “Housing for All” through two components: PMAY-Urban (PMAY-U) for urban areas and PMAY-Rural (PMAY-G) for rural areas.
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Key Features:
Objective: Construct pucca houses with basic amenities like water, electricity, and sanitation for eligible families
Eligibility:
- PMAY-U: Economically Weaker Sections (EWS), Low-Income Groups (LIG), and Middle-Income Groups (MIG) with specific income criteria
- PMAY-G: Homeless families or those living in kutcha houses in rural areas, identified via SECC 2011 data
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Subsidies:
PMAY-U offers credit-linked subsidies on home loans (up to 6.5% interest subsidy) and support for slum redevelopment, affordable housing projects, and beneficiary-led construction
PMAY-G provides financial assistance of ₹1.2 lakh (plains) or ₹1.3 lakh (hilly areas) per house.
Progress: As of recent updates, millions of houses have been sanctioned and completed, with a focus on women empowerment through joint ownership
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Challenges: Delays in construction, land acquisition issues, and funding constraints in some regions.
Impact: Improved living standards, reduced homelessness, and economic growth through construction activities
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