(FE)
Union Minister of Finance Nirmala Sitharaman while presenting Budget 2023 has proposed to increase the allocation made towards the Pradhan Mantri Awas Yojana by 66% to Rs 79,000 in the Union Budget 2023-24.
Pradhan Mantri Awas Yojana – Urban (PMAY-U) was extended on August 17, 2022 up to December 2024 with all the verticals except Credit Link Subsidy (CLSS). CLSS for EWS and LIG were till March 31, 2022. During the extended period, no new houses were to be sanctioned. The additional outlay could be for completing the existing projects.
“The outlay for the PMAY scheme has been increased from 66% to Rs 79,000 crore, which represents a significant increase in funding for the program. This increase in funding will likely help the government achieve its goal of providing affordable housing to more people and contribute to the overall growth and development of the country,” says Arpit Mehrotra, MD, office services, south India & head of flex | India, Colliers.
