By Team Homes | Friday, 02 February 2024

Nirmala Sitharaman Pledges to Set-up 2 Crore Houses in Next 5 years

Union Finance Minister Nirmala Sitharaman in her Interim Budget 2024 speech on February 1 announced that the government will set up 2 crore affordable houses in the next five years.

In her speech at Interim Budget 2024, Nirmala Sitharaman, Union Finance Minister, announced that the government will set up 2 crore affordable houses for middle-class community in the next five years. She said that the government is dedicated to its pledge of providing "housing for all”. Also she also said that the government has achieved a target of three crore houses in rural areas under the scheme of PMAY (Pradhan Mantri Aawas Yojana) and the government will also carry this scheme to provide housing for the middle class living in rental houses or in slums or in unauthorized colonies to "buy or build" their own houses. 

Denoting this, Nirmala Sitharaman, Union Finance Minister said, “70 percent houses given under the PMAY (Gramin) scheme were given away to women beneficiaries.

Under the scheme, an assistance of Rs. 1.20 lakh is given in plain areas and Rs 1.30 lakh in hilly areas. The cost of the scheme is bear by the central government and a state government in a 60:40 ratio.

Also she highlighted about the rooftop solarisation to make sure 1 Crore households gets free electricity of up to 300 units for every month which leads to a household savings of Rs. 15,000-18,000 per annum.