2 crore more houses to be constructed under PMAY(G) in next 5 years: FM

New Delhi: Construction of two crore more houses will be done under the Pradhan Mantri Awas Yojana (Gramin) in the next five years, Finance Minister Nirmala Sitharaman said on Thursday.

Read the full budget speech here

Presenting a vote on account or an interim budget for 2024-25, she said the implementation of the Pradhan Mantri Awas Yojana (PMAY) continued despite the COVID-19 pandemic, and the target of constructing three crore rural houses will be met soon.

"Despite the challenges due to COVID-19, the implementation of the Pradhan Mantri Awas Yojana (Gramin) continued, and we are close to achieving the target of three crore houses," Sitharaman said.

"Two crore more houses will be taken up in the next five years to meet the requirement arising from the increase in the number of families" she said in her pre-election budget .

The PMAY(G) is a social welfare programme to provide housing for the rural poor in the country.

Under the scheme, an assistance of Rs 1.20 lakh is given in plain areas and Rs 1.30 lakh in hilly areas. The cost of the scheme is borne by the central government and a state government in a 60:40 ratio.