PMAY-G likely to get 28,000cr in additional aid to meet targets

Conversations are underway to allocate an additional Rs 28,000 crore for the Pradhan Mantri Awas Yojana – Gramin (PMAY-G), this fiscal year to ensure states meet their construction targets within the stipulated timeframe. The amount will be allotted over and able the Rs. 20,000 crores already allocated for PMAY-G scheme in the 2022-23 Budget. The additional funds will be used to complete construction of 8.9 million houses that remain from their target of 29.5 million rural pucca houses.

The PMAY-G scheme was introduced in 2016 to create pucca houses for rural areas under Prime Minister Narendra Modi’s vision of “Housing for all” by 2022. A construction target of 10 million homes was set for the first phase (FY2016-17, FY 2017-18, and FY2018-19) and 10.5 million homes was set for the second phase (FY20219-20, FY 2020-21, and FY2021-22). In August this year, the Union Cabinet approved as deadline extension until December 2024 to meet targets on the behest of states and union territories.

Several states are struggling to meet their targets with the funds allotted to them. According to the guidelines of the scheme, the financial obligation to implement the scheme is to be borne in a ratio of 60:40 between the Centre and State and 90:10 between Centre and State for special category states and union territories. The scheme also provides financial assistance between 1.2 to 1.3 lac rupees for beneficiaries of the scheme.

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PMAY-G likely to get 28,000cr in additional aid to meet targets

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