Centre Plans to Increase Funds for PMAY Scheme

The Centre may plan to allocate an approximate fund of Rs 3,000 crore to the National Housing Bank (NHB) which can provide loans to several housing finance companies. Also, there is a good chance that the government increases budgetary allocation for its flagship Pradhan Mantri Awas Yojna (PMAY).

The proposal to increase fund for PMAY scheme, also known as ‘housing for all’ scheme for cities and town, is sent before the finance minister by Urban Development Minister M Venkaiah Naidu whereas the Group of Secretaries (GoS) who are already dealing with health, urban development and sanitation advised to provide more funds to NHB.

As per the recent survey, There is a demand of about 1.4 crore houses across India but a technical committee set up by the ministry estimated the demand to be 1.9 crore. Soon, the ministry office will release the final estimation.

Source: ET Realty

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