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Source– This post on Pradhan Mantri Awas Yojana scheme has been created based on the article “An overview of the PMAY-U scheme” published in “The Hindu” on 24 April 2024.
Why in the news?
The “Housing for All by 2022” program, targeting both urban and rural areas under the PMAY (Pradhan Mantri Awas Yojana) scheme has been a major scheme of the current government.
About the Pradhan Mantri Awas Yojana scheme
| Aspects | Description |
| About | It was initiated in the 2015 by Ministry of Housing and Urban Affairs. |
| Scheme type | PMAY is a centrally sponsored scheme (Both the Union and the State governments financially contribute to it) |
| Objective | a) Rehabilitation of slum dwellers with private developers’ participation b) Promotion of affordable housing for the weaker sections through Credit Linked Subsidy Schemes (CLSS) c) Providing subsidy for Beneficiary-led Construction (BLC). |
| Components | 1. The scheme has two components: PMAY-Urban and PMAY-Rural, which cater to the urban and rural areas respectively 2. The scheme is being implemented through four verticals a) Beneficiary Linked Construction (BLC): Subsidy for beneficiary-led individual house construction /enhancement. b) Credit Linked Subsidy Scheme (CLSS): Promotion of affordable housing for weaker sections through credit subsidy. c) Affordable Housing in Partnership (AHP): Creation of houses by both public and private sectors. d) In-Situ Slum Redevelopment (ISSR): Rehabilitation of slum dwellers with the participation of private developers using land as a resource. |
Read more: Pradhan Mantri Awas Yojana-Urban (PMAY-U)
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