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Investment in urban sector rose from ₹68,000 cr to ₹2 lakh cr under NDA: Puri
Union minister Hardeep Singh Puri said that the annual investment in urban sector has increased from ₹68,000 crore in 2014 to ₹2 lakh crore in 2023
Union minister Hardeep Singh Puri on Monday said that the budgetary allocation for housing and urban development by the Centre has risen significantly since 2014, when the NDA government came to power.
“It is estimated that annual investment in urban sector has increased from ₹68,000 crore in 2014 to ₹1.30 lakh crore in 2018 and ₹2 lakh crore in 2023,” Puri, minister of housing and urban affairs (MoHUA), said in Rajya Sabha. He was replying to a starred question by BJP MP Surendra Singh Nagar of Uttar Pradesh.
He also said the budget during 2014-2023 has been significantly higher than the preceding 10 years in the sector. Puri , “Further, estimated investment in the urban schemes under MoHUA has increased manifold from ₹1,78,053 crore during 2004-14 to ₹18,07,101 crore during 2014-23. This includes investment in Central Government urban schemes of Atal Mission for Rejuvenation and Urban Transformation (AMRUT), Smart Cities Mission, Pradhan Mantri Awas Yojana - Urban (PMAY-U), Swacch Bharat MissionUrban and Urban Transport.”
The minister said that for housing alone, the total investment in housing projects has increased approximately 21 times from ₹38,303 crore during 2004-14 to ₹8.11 lakh crore during the period 2015-24. “Similarly, total Central Assistance approved has increased from ₹20,304 crore during 2004-14 to ₹2 lakh crore during 2015-24 representing an increase of 10 times approximately,” he added.
He emphasised that PMAY-U adopted a demand-driven approach where States/UTs were mandated to conduct demand surveys in their respective jurisdiction to assess the actual demand of houses rather than supply driven approach adopted in earlier scheme such as JnNURM, introduced by the UPA government.
He said PMAY-U also “promoted the spirit of cooperative federalism” by giving the power of selection of beneficiaries, preparation, appraisal, and approval of Detailed Project Reports (DPRs) have been devolved to State/UT Governments. Further the project has seen innovative light house projects in six cities showcasing modern and low-cost technology of construction, the minister said.
