Q. With reference to the Pradhan Mantri Awas Yojana (PMAY), consider the following statements:
1.It is a centrally sponsored scheme designed to ensure “Housing for All”.
2.It aims to involve the private sector to bridge the gap in public investments for social housing.
3.The Credit Linked Subsidy Scheme (CLSS) component of PMAY provides direct cash transfers to eligible beneficiaries.
4.Under the Beneficiary-led Construction (BLC) component of PMAY, the government’s role is limited to cost-sharing with beneficiaries.
How many of the statements given above are correct?
Explanation –
Statements 1, 2, and 4 are correct. The Pradhan Mantri Awas Yojana (PMAY) is a centrally sponsored scheme launched by the Indian government in 2015 with the objective of providing “Housing for All”. PMAY includes the involvement of the private sector to address the housing needs, particularly through the in-situ rehabilitation of slum dwellers with private developers’ participation. In the BLC component of PMAY, the government provides financial assistance, but the role is primarily limited to cost-sharing, with the bulk of investment often coming from the beneficiaries themselves.
Statement 3 is incorrect. The CLSS under PMAY does not provide direct cash transfers; instead, it offers an interest subsidy on home loans taken by eligible beneficiaries, which is credited upfront to the loan accounts, reducing the effective housing loan and Equated Monthly Installment (EMI).
Source: The Hindu
