Budget 2022 | Centre will work with states to ensure fast tracking of land, construction related approvals: Finance Minister

Feb 01,2022

Finance Minister Nirmala Sitharaman on February 1 announced that Rs 48,000 crores have been allotted for housing projects under the PM housing scheme in FY 2023.

While presenting her fourth Union Budget, FM Sitharaman said: “In FY 2022-23, 80 lakh houses will be completed for identified beneficiaries of the Pradhan Mantri Awas Yojana.”

She added: “Rs 48,000 crores has been allocated for the completion of construction of these 80 lakh houses under the PM Awas Yojana in both rural and urban areas.”

This move, she said, will promote affordable housing for the economically weaker sections and the middle class.

The Centre will work with state governments for the reduction of time required for all land and construction-related approvals, for promoting affordable housing for the middle class and for the economically weaker sections (EWS) in urban areas.

“We shall also work with the financial sector regulators to expand access to capital along with a reduction in the cost of intermediaries,” the Finance Minister added.

Commenting on the announcements, Union Minister for Housing and Urban Affairs Hardeep Singh Puri said: "As far as my Ministry is concerned, the announcement related to the PM Awas Yojana - 80 lakh homes will be completed under that and Rs 48,000 crores have been set aside for that."

In Budget 2022, the Centre has also allocated Rs 60,000 crore to ensure tap water supply in 3.8 crore households. “The current coverage of the ‘Nal Se Jal’ scheme is 8.7 crore, to which 3.8 crore will be added in FY 2022-23.”

Notably, out of the total beneficiaries of the ‘Nal Se Jal’ scheme, 5.5 crore households were provided tap water in the last two years alone.

The Pradhan Mantri Awas Yojana (PMAY) is a flagship project of the Government of India that aims to provide affordable housing for the urban poor, rural poor, and other sections of the society who are homeless. The scheme was launched in 2015 with an aim to build 20 million houses by 2020. There are two categories of Pradhan Mantri Awas Yojana:

Pradhan Mantri Awas Yojana – Urban: This has specific project verticals to address the needs of those who are in urban areas. Individuals who belong to the Economically Weak Section or Low Income Group or Middle Income Group can also avail of the benefits under this scheme.
Pradhan Mantri Awas Yojana – Gramin: Under this category, those who are homeless or reside in zero, one or two-room kutcha houses as per the data collected from the Socio-Economic and Caste Census 2011 are eligible to avail of the benefits.