Govt disbursed Rs 41,415 cr interest subsidy under PMAY-U

The central government has disbursed an interest subsidy of Rs 41,415 crore to 17.68 lakh beneficiaries under the Pradhan Mantri Awas Yojana-Urban (PMAY-U) scheme.

The PMAY-U scheme was launched by PM Narendra Modi in June 2015, which aims to ensure housing for all by 2022 by providing financial assistance to all beneficiaries.

Minister of Housing and Urban Affairs (MoHUA), Hardeep Singh Puri, said that the subsidy of Rs 5,320 crore has been disbursed till now under the Credit Linked Subsidy Scheme (CLSS) in FY22.

He said that during FY 21-22, Rs 8,000 crore was allocated for the PMAY-U scheme in Budget Estimates (BE), which has now enhanced to Rs 27,000 crore, including Rs 12,000 crore for the CLSS component at the Revised Estimates (RE) stage in consultation with the Ministry of Finance (MoF).

The Ministry supplements the efforts of the states and Union Territories (UTs) for providing housing to all the eligible beneficiaries in India.

The PMAY-U was launched, focusing on providing central assistance to the states, UTs and Central Nodal Agencies (CNAs) for providing housing to all the eligible beneficiaries in the urban areas till 31 March 2022.

For the Smart Cities Mission (SCM), the government has invested Rs 3,013.73 crore to slum redevelopment projects so far under the SCM.

The SCM projects include slum redevelopment, proposed and implemented by the cities following the Smart City Plans (SCPs).

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