Middle-class housing scheme

Source– This post on Middle-class housing scheme is based on the article “Are you middle class? A scheme may tell you soon” published in “Live mint” on 11th February 2024.

Why in the News?

Recently Finance minister has announced a Middle-class housing scheme for the middle class as part of ‘Housing for all’ policy.

What is this Middle class housing scheme?

1. Its announcement was made in the recent budget for FY 25.

2. The government will start a program to assist middle-class individuals living in rented houses, slums, chawls, and unauthorized colonies to purchase or construct their own homes.

3. While it is part of the ‘housing for all’ policy, it’s not an extension of Pradhan Mantri Awas Yojana (PMAY).

4. Its a new scheme where the government will define income levels, location, and accommodation types to identify beneficiaries.

Note– There is no defined criteria for the identification of the middle class in India yet.

What is Pradhan Mantri Awas Yojana (PMAY)?

1. About– It is a housing scheme launched by the Government of India with the aim of providing affordable housing for all by the year 2022.

2. Components– It has two components: Pradhan Mantri Awas Yojana (Urban) (PMAY-U) for the urban poor and Pradhan Mantri Awas Yojana (Gramin) (PMAY-G) for the rural poor.

3. Nodal Ministry– Pradhan Mantri Awas Yojana (Urban) (PMAY-U) administered by Ministry of Housing and Urban Affairs while Pradhan Mantri Awaas Yojana (Gramin) (PMAY-G) administered by Ministry of Rural Development.

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