The Indian Government has said that it will transfer about Rs 1.30 lakh crore directly into the accounts of beneficiaries under PMAY over a period of three years for construction of one crore houses.
Commenting on the development, Rural Development Secretary Amarjeet Sinha told the media, "Under the Pradhan Mantri Awas Yojana (PMAY), 60 per cent houses will be constructed for the homeless and those living in kachcha houses belonging to SC and ST communities."
"The work for selection and validation of beneficiaries under the Pradhan Mantri Awas Yojana has been completed. The scheme will be on DBT (direct benefit transfer) mode that means the funds will be transferred directly into the bank accounts of beneficiaries in installments over three years period," Sinha added.
The Minister further added that the total outlay of the scheme, including central and state's share, was about Rs 1.30 lakh crore and the transfer of funds into the bank accounts of beneficiaries will start from next month and so do the construction.