The Government announced what percent increase in the Pradhan Mantri Awas Yojana outlay in 2023-24?

Correct option is A

The correct answer is (a) 66%

In the Union Budget for 2023-24, Finance Minister Nirmala Sitharaman announced a 66% increase in the allocation for the Pradhan Mantri Awas Yojana (PMAY), raising the outlay to over ₹79,000 crore.

Additional Information:

Pradhan Mantri Awas Yojana (PMAY):

• Launched in 2015 with the aim of achieving "Housing for All" by 2024.

Key Features:

• Affordable Housing:
  Focuses on constructing affordable housing units for Economically Weaker Sections (EWS), Low-Income Groups (LIG), and Middle-Income Groups (MIG).
• Two Components:
  • PMAY-Urban (PMAY-U): Targets urban areas.
  • PMAY-Gramin (PMAY-G): Targets rural areas.
• Subsidy:
  Provides interest subsidies on home loans under the Credit Linked Subsidy Scheme (CLSS).
• Focus on Inclusivity:
  Prioritizes vulnerable sections, including women, SC/ST, and differently-abled individuals.

Objectives:

• Promote the use of eco-friendly and sustainable technology.
• Enable slum rehabilitation with the participation of private developers.
• Support the construction of new houses and enhancement of existing houses.