look news india
Finance Minister Nirmala Sitharaman is going to present the full budget for the financial year 2024-25 on 23 July 2024. This time the government's focus in the budget may be on the middle class and the poor. While there is talk of tax relief to the middle class from different circles in the country, the government is also focusing on the upliftment of the poor. In such a situation, this time in the budget, the government can make a big announcement to fulfill the dreams of 3 crore people.
When Finance Minister Nirmala Sitharaman presented the interim budget in February, she also talked about expanding the scope of the Pradhan Mantri Awas Yojana. She also assured to bring a new housing scheme for the middle class. Now it is likely that there will be a concrete announcement in this regard in the budget.
Funds will be released for this scheme
The government may release more funds in the budget for Pradhan Mantri Awas Yojana-Gramin. Pradhan Mantri Awas Yojana is the flagship scheme of the Modi government. This scheme has been created to fulfill the government's 'Housing for All' goal. Under the Pradhan Mantri Awas Yojana, a target was set to build 2.95 crore houses in rural areas by March 2024. Since the launch of the scheme in November 2016, construction of 2.63 crore houses has been completed in the country so far. The Modi government restarted this scheme by making radical changes in the Indira Awas Yojana of the previous government.
Under the Pradhan Mantri Awas Yojana-Gramin, in most states, the central government bears 60 percent of the cost of the house. The rest of the cost is borne by the state governments. Not only this, in the north-eastern states, this expenditure goes up to 90 percent of the central share. Whereas in the Union Territories, 100 percent of the cost is borne by the central government.
Target to build 2.95 crore houses
The government had set a target of building 2.95 crore houses under the Pradhan Mantri Awas Yojana by March 2024, but in the interim budget, the government has increased its scope and has set a target of building 2 crore additional houses in rural areas. This is to be completed in the next 5 years. At the same time, after returning to power at the Center, Modi 3.0 has also approved the proposal to build one crore houses in urban areas in the first cabinet meeting.