In a meeting recently, the Union Cabinet sanctioned implementation of Phase-2 of the Pradhan Mantri Awaas Yojana-Gramin (PMAY-G). The Government plans to construct 1.95 crore houses under this flagship programme by 2022.
An official statement said that the remaining households will be offered homes under the planned construction of 1.95 crore dwelling units and thus all the rural people will have pucca houses by 2022.
The Phase 2 will be the continuation part of the rural housing scheme.
This Phase of the Pradhan Mantri Aawas Yojna [Gramin] will work similar to the Phase one in which it was targeted to build 60 lakh houses. Rs. 76,500 crore was the estimated cost of construction for these dwelling units.
The Central Government gave partial assistance of Rs. 48,195 crore and the State Governments had a share of Rs. 28,305 crore.
In the meeting, the Government also took the decision to continue the Program Management Unit (PMU) and National Technical Support Agency (NTSA) in the financial year 2019-20.
The borrowing for extra financial requirement via the current mechanism of EBR will continue to be same for the scheme.
Prime Minister Narendra Modi launched the Pradhan Mantri Aawas Yojna [Urban] and [Rural] in the year 2016 with the aim to offer Housing for All by 2022. The Central and State Governments will share the estimated costs as the beneficiaries will also have to add some amount of money to own a home under this scheme.
This scheme is also known as the Credit-Linked Subsidy Scheme [CLSS] as the beneficiaries will get subsidy according to the categories such as EWS [Economically Weaker Section] and MIG [Middle Income Group].