Although the shelter is considered one of the basic needs of human beings, a significant portion of poor people is still homeless. In developing countries like India where the magnitude of poverty is quite high in society, the problem of being homeless also quite high.
Since its independence, the Government of India has taken many welfare initiatives to help its poor people. Amongst them, PMAY is a significant one. Under PMAY the Government of India aims to ensure home for every family in both the rural and urban areas.
PMAY stands for Pradhan Mantri Awas Yojana, which is an initiative by the Government of India. It was launched in the year 2015. The main purpose of this initiative is to provide affordable houses to the poor. The main target groups under PMAY are the Economically Weaker Section (EWS), Lower Income Group (LIG), and Mid-Income Group (MIG).
Under PMAY you will find two kinds of schemes; one is PMAY (Gramin) and the other is PMAY (Urban). Under PMAY the government of India aims to build 2 crore houses by 31 March 2022 to ensure an affordable houses for the homeless in urban India.
The affordable housing sector of India, no doubt, have received a boost from the union budget 2022. The present status of the PMAY scheme can be understood through the union budget highlight details, such as
The real estate sector of India received a strong and significant boost from PMAY. PMAY has been a great success.
According to the data, it is witnessed that around 1.65 crores of affordable houses have been constructed under PMAY-G (as of November 29, 2021).
However, some problems have appeared in the way of completion of the PMAY scheme, such as the land availability problem which has delayed the project significantly.
Alright! This is all for today. I hope that you have received some insightful information from this blog. So, do share it if you find it beneficial!