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The Indian government is looking to accelerate its 'housing for all' initiative for rural India, aiming to meet the target three months ahead of schedule by December 2023. A senior official from the rural development ministry stated that the government is in discussions with states to speed up construction processes and complete housing projects quickly. If successful, this will be a significant achievement for the Modi government in advance of the 2024 general election.
The government initially planned to construct 29.5 million houses under the Pradhan Mantri Awas Yojana (Gramin) initiative by 2022, but the Covid-19 outbreak disrupted those plans. The deadline was subsequently pushed back to March 2024. To date, the government has sanctioned 28.6 million houses, with 22.1 million having been built across states and Union territories.
The ministry has set a construction target of 5.20 million houses for FY23, with 3.85 million houses completed as of March 22 this fiscal year. Officials are confident the target will be achieved, as the reporting of completion of construction usually increases in the last two weeks of the financial year. The government is now aiming to complete the construction of the remaining houses by December 2023, ahead of the revised deadline of March 2024.
For the next fiscal year, the ministry is targeting the completion of 5.73 million houses to achieve the overall target. Under the PMAY-G initiative, the Centre pays 60% of the construction cost in most states, while state governments contribute the remaining 40%. However, the Centre's contribution increases to 90% for north-eastern and hilly states, and to 100% for Union territories. To accelerate housing construction, the Centre has significantly increased its outlay for the PMAY-G in its revised estimate for FY23 to Rs 48,422 crore from the budget estimate of Rs 20,000 crore.
The 'housing for all' initiative is a critical element of the Modi government's development agenda, and the accelerated completion of rural housing projects would be a significant accomplishment ahead of the general election. By providing affordable housing to rural populations, the initiative aims to improve the standard of living, reduce poverty, and promote economic growth.
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