In the Union budget 2019-20, the Central Government introduced a budgetary provision for the Housing and Urban Affairs Ministry. The budget proposed a hike of approximately 12% in comparison to the last fiscal year that was 2018-19.
For the present financial year, the Government approved Rs. 48,000 crores in the Union Budget for the Pradhan Mantri Awas Yojana (Urban), the flagship Housing for All project launched by PM Narendra Modi in 2015. The scheme is allocated a fund of Rs. 6,853.26 crores instead of Rs. 6,505 crores that were allocated in the last financial year.
Nirmala Sitharaman, the maiden woman Finance Minister of India said that, Under the PMAY-U, over 81 lakh houses, with an investment of about Rs 4.83 lakh crores, have been sanctioned, of which construction of about 47 lakh houses has started. Over 26 lakh houses have been completed, of which nearly 24 lakh houses have been delivered to the beneficiaries.
Prior to this, Piyush Goel who tabled the interim budget in February this year had said that a total of 1.53 crore houses have been built under the Pradhan Mantri Awas Yojana.
Apart from this, Rs. 7,300 crore is sanctioned for the AMRUT Yojna i.e. the Atal Mission for Rejuvenation and Urban Transformation scheme introduced with the motive to better sewage networks, water supply and various infrastructural services for improvising standard of living. This allocation is also greater than what was proposed earlier for the current financial year.
In the Union Budget 2019-20, the Narendra Modi-led Government also granted Rs. 6,600 crores, against Rs. 6,169 crores in the last budget to develop 100 cities as Smart Cities.