The nation was curious about Modi’s big speech yesterday because of obvious reasons. Many important decisions were made in the last few days and so, we all were waiting for another big announcement by Narendra Modi and the good thing is we are not disappointed. Modi yesterday threw light on ‘Pradhan Mantri Awas Yojana’. Let me quickly give you the details of the scheme.
What is Pradhan Mantri Awas Yojana?
It is a missi0n that aims at providing central assistance to Urban Local Bodies. 3255 Urban Local Bodies were classified in 1991 Census of India. These bodies in India can be classified into four major categories:
- Municipal Corporation (Nagar Nigam)
- Municipality (Nagar Parishad)
- Town Area Committee
- Notified Area Committee
The main objectives of Pradhan Mantri Awas Yojana are:
- In-Situ Rehabilitation of existing slum dwellers
- Credit Linked Subsidy
- Affordable Housing
- Subsidy for construction/enhancement for beneficiary led individual house
The implementation period of the scheme is 2015-2022.
What Is The Importance of Pradhan Mantri Awas Yojana?
We all know that people from rural area migrate to the urban areas due to a variety of reasons and the most common reason is ‘to get employed’. When the economically poor people arrive in the urban areas, they mostly settle in slums. as a result, the current decadal growth rate of slum household is 34%. In fact, it is projected that the slum households will go up to 18 million. the Pradhan Mantri Awas Yojana looks forward to addressing the housing shortage.
What Did Modi Say About Pradhan Mantri Awas Yojana?
Urban poor people who avail loan under ‘Pradhan Mantri Awas Yojana’ will come across two schemes:
- A rebate of 4% if a loan of 9 lakhs is taken.
- A rebate of 3% if a loan of 12 lakhs is taken.
Also, under the scheme, 33% more houses will be constructed in the rural areas. People of the rural area who belongs to the lower middle class and middle class will get a rebate of 3% on a loan of Rs 2 lakhs. They have to build a house under the scheme to avail the benefit.
Who Is Eligible To Benefit From The Scheme
All the economically weak section of the society will benefit from it. Family who doesn’t have a pucca house have the opportunity to make a pucca house under the scheme
When most of the people are concentrating on the negative side of Modi’s speech, let us look forward to the positive announcement made by him. As a student of geography, I know very well about the problems of slums and trust me when I say, this scheme can prove to be very beneficial if is implemented honestly. You can get more information about it in the official website of Pradhan Mantri Awas Yojana.Would love to connect with you on social media!