Government may allocate Rs 28,000 crore more to PMAY-G this year

28 Nov 2022 , 12:18 PM

Central Government may allocate an additional Rs 28,000 crore to Pradhan Mantri Awas Yojan – Gramin, in FY 23. This will be done so that more houses can be constructed under the scheme.  General Election will take place in 2024. The rural economy of India is still reeling under the economic devastation of Covid lockdowns. High inflation has reduced the real income of rural poor. The Government is trying to alleviate this impact through increased spending on social welfare schemes such as PMAY-G. 

Under PMAY-G, affordable housing is built for the rural poor by the Government. Interest subsidy is also provided on the loans taken by the poor for buying these houses. The focus of the Pradhan Mantri Awas Yojna till now was more in urban areas. But now the Government seems to be increasing the focus on rural areas too. India suffers from a severe affordable housing shortage. Provision of good quality, affordable housing is necessary for improving the standards of living of the people of the country.