Pradhan Mantri Awas Yojana-Urban 2.0
The Union Cabinet approved the Pradhan Mantri Awas Yojana-Urban 2.0 (PMAY-U 2.0) on August 9, 2024, to provide affordable housing for one crore urban poor and middle-class families over the next five years. This scheme, an extension of the original PMAY launched in 2015, offers financial support, including interest subsidies and enhanced loan guarantees, particularly for economically weaker sections and low-income groups. The program will be implemented across urban areas, including towns from the 2011 Census, with a focus on sustainable construction and weather-resistant homes. Despite potential challenges such as delivery delays and urban land constraints, PMAY-U 2.0 aims to address India’s urban housing shortage and promote social and economic development through improved living conditions.
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