The Union Cabinet approved an expanded version of the Pradhan Mantri Awas Yojana, aiming to increase affordable housing supply in urban and rural areas across India.
PM Awas Yojana has financed millions of homes for economically weaker sections through interest subsidies and beneficiary-led construction grants. The 2.0 iteration broadens eligibility, raises unit targets, and aligns with the government’s pledge to ensure housing for all by extending credit-linked support.
Urban missions focus on slum rehabilitation and rental housing in congested metros, while rural components assist pucca house construction with sanitation attachments. Cabinet approval unlocks budgetary allocations and implementation guidelines for states and housing finance agencies.
Affordable housing policy intersects with employment in construction, steel, and cement sectors while addressing homelessness and overcrowding. Expanded targets respond to persistent demand from migrant workers and rural households living in kutcha structures vulnerable to weather damage.
PM Awas Yojana 2.0 broadens affordable housing targets for urban slum rehabilitation and rural pucca house construction. Union Cabinet approval unlocks budgetary support and implementation rules states will use to channel credit-linked subsidies toward eligible beneficiaries.
Credit-linked subsidies under PM Awas Yojana 2.0 target households living in kutcha structures and urban slums. Cabinet approval sets expanded unit targets states will pursue through housing finance agencies and municipal rehabilitation programmes.
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Sources:
https://www.newsonair.gov.in/