AMONG a slew of measures that the Narendra Modi-led government took on Friday, the most ambitious appeared to be the Pradhan Mantri Awas Yojana-Urban (PMAY-U) 2.0.
Under this scheme, financial assistance will be provided to one crore urban poor and middle-class families through states, UTs or Primary Lending Institutions to construct, purchase or rent a house at an affordable cost in urban areas in five years.
The government will provide financial assistance of ₹2.30 lakh crore under the scheme.
The decision was taken at the cabinet meeting chaired by Prime Minister Narendra Modi. Under the scheme, families belonging to Economically Weaker Section (EWS), Low Income Group (LIG) or Middle Income Group (MIG) segments having no pucca house are eligible to purchase or build a house.
This story is from the August 10, 2024 edition of The New Indian Express.
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This story is from the August 10, 2024 edition of The New Indian Express.
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