Budget 2022: Pradhan Mantri Awas Yojana (PMAY): Driver for Government’s Inclusive Development
The Economic Survey presented on the 31st January, 2022 sheds light on the Union government’s significant leap towards their goal of providing “Housing to All” by constructing over 50 lakh pucca houses under the Pradhan Mantri Awas Yojana (PMAY-Urban and Rural) between April 2015 and December 2021. In line with the same, Finance Minister Nirmala Sitharaman announced allocation of INR.48,000 crore for the completion of 80,00,000 houses under the PMAY, both Urban and Rural, for the fiscal year 2022-23.
This significant outlay reinforces the government’s aim to further enhance the living standards of Indians. To ensure the scheme's success, the centre would work with the states for reduction of time required for all land and construction related approvals, to promote affordable housing under the said scheme. Furthermore, the centre would collaborate with the financial sector to expand access to capital along with reduction in cost of intermediation. Another significant step towards affordable housing is better land records management through adoption of Unique Land Parcel Identification (ULIP) number to facilitate IT-based management of land records.
As a part of Amrit Kaal (from 75 years to 100 years of independence) the government has made inclusive development as one of its priorities, thus the budget has made provisions for a significant allocation thereby clearly bringing out its commitment of providing a roof for each and every of its citizen.