Modi 3.0 Cabinet Poised to Approve Massive Plan for 2 Crore Homes Under PM Gramin Awas Yojana

Modi 3.0 Steps Up: Cabinet Set to Greenlight 2 Crore More Homes Under PM Gramin Awas Yojana, According to Sources

The newly established Modi 3.0 Cabinet is set to hold its inaugural meeting at Prime Minister Narendra Modi’s residence. In this significant gathering, scheduled for 5 pm, the cabinet is expected to make a pivotal decision to approve the construction of 2 crore rural houses under the Pradhan Mantri Awaas Yojana-Gramin (PMAY-G), sources reveal.

Additionally, the cabinet is anticipated to announce a 50 percent increase in benefits for PMAY-G recipients, according to sources cited by India Today.

Under this scheme, financial assistance of Rs 1.8 lakh will be provided for housing in plain areas, while those in hilly regions will receive approximately Rs 2 lakh. This initiative aims to bolster rural development and provide substantial support to the housing sector in these areas.

Moreover, it is predicted that the Bharatiya Janata Party (BJP) will maintain control over all major ministries, including Home, Defense, Finance, and External Affairs. This continuity is expected to ensure the stability and effectiveness of government operations as the party continues to drive its agenda forward.

This meeting and its outcomes are poised to play a crucial role in shaping India’s developmental strategies and addressing the housing needs of its rural population.

The government is expected to boost the financial aid for PMAY-G beneficiaries by approximately 50 percent.

In its inaugural meeting today, the Union Cabinet is expected to sanction the construction of an additional 2 crore houses under the Pradhan Mantri Awas Yojana-Gramin (PMAY-G). According to sources within the government, this decision reflects the administration’s commitment to enhancing rural housing infrastructure and improving living conditions for the underserved population.

Additionally, the government plans to significantly increase the financial assistance provided to PMAY-G beneficiaries by approximately 50 percent. This substantial boost in support aims to ensure that more individuals in rural areas can afford and access quality housing, furthering the goal of sustainable and inclusive development.

Following Narendra Modi’s swearing-in for his third term as India’s Prime Minister, the Cabinet convened promptly, signaling a swift start to governance. The grand ceremony at the Rashtrapati Bhavan not only marked Modi’s continuation but also saw the induction of 72 ministers, including 11 from allied parties within the NDA coalition, highlighting a broad-based approach to governance.

Nirmala Sitharaman’s Commitment: Building Two Crore More Houses Under PMAY-G in the Next 5 Years

Under Modi’s leadership, affordable housing has been a persistent focus. This commitment was reiterated by Union Finance Minister Nirmala Sitharaman, who announced ambitious plans to construct an additional two crore houses under the PM Awas Yojana-Gramin (PMAY-G) scheme within the next five years. This initiative aims to address the escalating demand for housing and provide secure, decent living spaces for the growing population.

Despite the challenges posed by the COVID-19 pandemic, the implementation of PMAY-G continued unabated, showcasing the government’s resilience in meeting its targets. Sitharaman emphasized that the ongoing efforts are nearing fruition, with the completion of nearly three crore houses under the scheme. Looking ahead, the government remains committed to accommodating the evolving needs of families, with plans underway to embark on the construction of two crore additional houses to meet the rising demand for affordable housing across the country.

During her Interim Budget speech, Nirmala Sitharaman highlighted plans for a forthcoming scheme aimed at supporting the middle class. This initiative is designed to empower individuals residing in rented accommodations, slums, or unauthorized colonies by facilitating their ability to purchase or construct their own homes. The scheme’s overarching goal is to promote homeownership and improve living standards for a broader segment of the population, aligning with the government’s vision of inclusive and sustainable development.

Empowering the Underprivileged: PM Modi’s Vision for Affordable Home Loans

During his Independence Day address last year, Prime Minister Modi unveiled plans to provide financial support to the underprivileged sections of society, particularly those residing in slums, chawls, unauthorized colonies, and rented accommodations. He announced that these individuals would soon have access to home loans from banks at reduced interest rates, offering much-needed relief to the poor and middle class.

Furthermore, Prime Minister Modi hinted at an upcoming scheme focused on facilitating home loans for these marginalized groups. This initiative is expected to streamline the process of obtaining housing finance and promote homeownership among those who have traditionally faced barriers in accessing credit and affordable housing options. The government’s commitment to addressing the housing needs of vulnerable communities underscores its dedication to inclusive and equitable development across the nation.

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