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~by Shejal Singh Chauhan
The Pradhan Mantri Awas Yojana (PMAY) is a flagship programme of the Government of India for the urban and rural poor to have housing at affordable prices. It was launched on June 25, 2015, by Prime Minister Narendra Modi. The main objective of the scheme is to provide a pucca house to every homeless person in India by 2022 to celebrate 75 years of India’s independence.
Key Characteristics of PMAY
Financial Assistance: The government provides financial assistance of up to ₹1.20 lakh to 1.30 lakh per beneficiary in the rural area, with higher amounts set aside for hilly areas.
Assist in Purchasing a Property: The beneficiaries of PMAY will be able to avail of their loan at subsidized interest rates for acquiring a property in urban areas. Not only does it reduce the effective interest rate to 4% or 6%, but it also helps low income groups and economically weaker sections.
Priority to Women: As per the scheme, the house should be in the name of the female member of the household, or jointly with the husband.
Basic Amenities: The scheme provides for basic amenities like toilets, LPG connection, electricity, drinking water etc.
Benefits to the People
Under PMAY-Gramin, the government aims to build 3.32 crore houses. By November 19, 2024, 3.1 crore houses have been sanctioned, and 2.67 crore houses have been built as a consequence of improving millions of people’s living conditions
Effects of the Scheme
The PMAY scheme has given shelter to millions of poor families, and it has given a sense of dignity and security to their lives. This scheme empowers the poor and leads them towards self-reliance.
Beneficiaries Examples
Ramu, a poor farmer, from Uttar Pradesh received ₹1.20 lakh under the PMAY-Gramin scheme and now he owns a pucca house consisting of 2 rooms, one kitchen, and one toilet.
Seema, a widow from an urban area, accessed a home loan from the bank on subsidized rates and now owns a small flat.
The Pradhan Mantri Awas Yojana has changed million of families lives in India. The dream of owning a home has become a reality for the millions of families.
