Continuation of PMAY-G till March 2024 helps in completing the construction of remaining 155.75 lakh houses (Photo Credit: Business Standard)
1.65 crore PMAY-G houses have been constructed out of 2.95 crores and 2.02 crore houses will be completed by August 15 2022.
New Delhi: Prime Minister Narendra Modi-led union cabinet on Wednesday (December 8) has approved the Department of Rural Development proposal for the continuation of Pradhan Mantri Awaas Yojana-Gramin (PMAY-G) beyond March 2021.
As per an official release, financial assistance is to be provided to construct the remaining 155.75 lakh houses as of March 31 2021, under the scheme within the total target of 2.95 crore houses.
As per an official release, "Continuation of PMAY-G beyond March 2021 till March 2024 as per the existing norms to complete remaining houses within a cumulative target of 2.95 crore houses."
The total financial implication for construction of the remaining 155.75 lakh houses is Rs. 2,17,257 crore (Central Share Rs.1,25,106 crore and State Share Rs.73,475 crores) for achieving cumulative targets of 2.95 crore houses in rural areas under the PMAY-G and an additional requirement of Rs.18,676 crore towards the interest repayment to NABARD.
The phasing out of EBR and provision of entire scheme funding through Gross Budgetary Support (GBS) shall be decided in consultation with the Ministry of Finance.
Release of additional Rs 45 lakh administrative funds annually from the Central share of Administrative funds (0.3 per cent out of total Administrative fund of 2 per cent) to each smaller State viz. Himachal Pradesh, Haryana, Goa, Punjab, Uttarakhand, the NE States except for Assam and Tripura and all UTs except Jammu and Kashmir over and above 1.70 per cent administrative funds released to said States/UTs.
Continuation of Program Management Unit (PMU) and National Technical Support Agency (NTSA) till FY 2023-24.
The continuation of the scheme until March 2024 ensures that the remaining 155.75 lakh households within the overall target of 2.95 crore houses under PMAY-G would be assisted in constructing Pucca houses with basic amenities to achieve the objective of "Housing for All" in rural areas.
As of November 29 2021, 1.65 crore PMAY-G houses have been constructed out of 2.95 crores. It is estimated that 2.02 crore houses, which is almost equal to SECC 2011 database based Permanent Wait List, will be completed by August 15 2022. Therefore, to achieve the total target of 2.95 crore houses, the scheme needs to be continued till March 2024.
Courtesy: ANI
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