Union Budget 2023- PM Awas Yojana Raised by 66 per cent, Check Details

The Union Budget 2023 made a significant announcement regarding the Central Government's ambitious scheme, Pradhan Mantri Awas Yojana (PM Awas Yojana). Finance Minister Nirmala Sitharaman has announced that the budget will include more funds than in previous years to help people achieve their dream of owning a home. More people will now benefit from this scheme.

What is PM Awas yojana?

The Pradhan Mantri Awas Yojana (Urban) Mission was launched on June 25, 2015, with the goal of providing housing for all in urban areas by 2022. The Mission provides Central Assistance to implementing agencies via States/Union Territories (UTs) and Central Nodal Agencies (CNAs) in order to provide houses to all eligible families/beneficiaries against a validated demand for houses of approximately 1.12 crore. According to PMAY(U) guidelines, the size of a house for the Economically Weaker Section (EWS) can be up to 30 sq. mt. carpet area; however, states/UTs have the flexibility to increase the size of houses with the Ministry's consultation and approval.

Increase in budget-

In the budget for 2023, the central government increased the PM Awas Yojana by 66 percent. The budget has now been reduced to Rs 79000 crore as a result of this. This budget will contribute to the increase in the number of houses.

Who will benefit from the PM Awas Yojana?

The PM Awas Yojana benefits the poor families of the country. This scheme was launched in 2015, with the goal of providing pucca houses to all by 2024. This allocates houses or amounts to people in two categories: urban and rural.