June 27, 2024: media reports indicated that the allocation for Pradhan Mantri Awas Yojana- Urban 2.0 (PMAY-U 2.0) is expected to be included in the upcoming Union Budget next month. It is anticipated that over one crore houses will be built under PMAY-U 2.0 in urban areas.
Currently, the details and mechanisms of PMAY-U 2.0 are under discussion. The Ministry of Housing and Urban Affairs is drawing from lessons learned during the first phase of PMAY-U to enhance the targeting of the scheme and ensure timely disbursement. PMAY-U 2.0 is likely to categorize beneficiaries into three groups: Economically Weaker Section (EWS), Low Income Group (LIG), and Middle Income Group (MIG), according to reports.
PMAY-U was originally launched by Prime Minister Modi on June 25, 2015. During the first meeting of the Modi 3.0 government's Union Cabinet on June 10, it approved government support for the construction of three crore houses under PMAY.
As per ministry statements, out of the 1.14 crore houses sanctioned for construction, more than 84 lakh houses have already been completed and handed over to beneficiaries. To date, Rs 1.64 lakh crore out of the committed central assistance of Rs 2 lakh crore has been disbursed.
Also Read: Pradhan Mantri Awas Yojana Documents: Check Complete List
