Budget 2023: Sitharaman announces outlay of ₹79,000 crore for PMAY, 65% higher than last year

Budget 2023: In 2022, the finance minister allotted ₹48,000 crore for the completion of 84 lakh houses under the scheme.

Published on: Feb 1, 2023, 12:54:30 IST

By HT News Desk, New Delhi

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Presenting the final full budget of the Modi government ahead of next year's parliamentary elections, Union finance minister Nirmala Sitharaman on Wednesday announced an outlay of ₹79,000 crore towards the Pradhan Mantri Awas Yojana (PMAY).

New Delhi: Union Finance Minister Nirmala carrying a folder-case poses for photographs outside the Finance Ministry at North Block, in New Delhi, Wednesday, Feb. 1, 2023, ahead of the presentation of the Union Budget 2023-24. (PTI Photo/Manvender Vashist Lav)

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“Outlay for PM Awas Yojana is being enhanced by 66%, to more than ₹79,000 crore,” said Sitharaman, who presented her fifth consecutive budget.

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In last year's budget, the minister allotted ₹48,000 crore for the completion of 84 lakh houses under the scheme. This, therefore, means that in the current budget, around 65% more money has been set aside towards the PMAY.

Also Read | No one went hungry as Centre provided free food grains to 80 crore people, says Sitharaman in Budget 2023 speech

Also, ahead of the budget, it was expected that the PMAY would receive an outlay of around 40,000 crore from the Centre. In the end, however, it ended up receiving nearly double the projected amount.

Also Read | Union budget 2023: Maximum deposit level for senior citizens enhanced

The Pradhan Mantri Awas Yojana, a flagship mission of the Government of India, was announced in June 2015, with an aim to address the housing shortage among the EWS/LIG and MIG categories. The scheme is handled by the Ministry of housing and urban affairs.

Also Read | Budget 2023: ‘50-year interest-free loans for states to continue…’, says FM

Under the plan, ‘pucca’ houses were to be provided to those eligible, by March 2022, with it being the 75th year of Independence. It now stands extended till December 2024.

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