The implementation of the Pradhan Mantri Awaas Yojana-Gramin (PMAY-G) during Financial Year 2024-25 to 2028-29 has also been approved by the Union Cabinet.
Union Minister Ashwini Vaishnaw said under the Pradhan Mantri Awas Yojana, three crore new houses will be constructed.
Out of these, two crore houses will be constructed in rural areas and one crore houses will be built in urban areas.
The budgetary provision on the scheme will be of 3 lakh 6 thousand 137 crore rupees.
Under PMAY-U 2.0, government would provide financial assistance to one crore urban poor and middle-class families.
Government will provide assistance through States, Union Territories and Primary Lending Institutions (PLIs).
The assistance will be to construct, purchase or rent a house at an affordable cost in urban areas in five years.
Under the scheme, government assistance of 2.30 lakh crore rupees will be provided.
Under the scheme, there is a provision for working women hostel.
The scheme has provision of an interest subsidy of 4% to 25 lakh rupees for Home loans in Economically Weaker Section (EWS), Low Income Group (LIG) and Middle Income Group (MIG) categories.
Clean Plant Programme (CPP) proposed by the Ministry of Agriculture and Farmers Welfare has also been approved by the government.
Modified Pradhan Mantri JI-VAN Yojana for financially supporting Advanced Biofuel Projects that use lignocellulosic biomass and other renewable feedstock has also been approved by the cabinet.
The cabinet has extended the modified scheme for five more years till 2028-29.
