Govt. to launch housing scheme for middle class.

  • The government would launch a scheme to help “deserving sections of the middle class living in rented houses or slums or chawls and unauthorised colonies” buy or build houses.

Pradhan Mantri Awas Yojana (PMAY)

  • The PMAY is a credit linked subsidy scheme to facilitate access to affordable housing for low and moderate income groups.
  • It has two components
    • PMAY (Urban) for the urban poor under the Ministry of Housing and Urban Affairs
    • PMAY (Rural) for rural India under the Ministry of Rural Development.
      • Over 2 crore houses have been constructed under the scheme since its launch in 2016.
      • Construction of two crore more houses will be taken up in the next five years.
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