Union Budget 2024: Govt schemes to help buy houses

Govt Schemes to be introduced to help middle class buy their own houses, says FM Sitharaman

Finance Minister Nirmala Sitharaman introduced a scheme on Thursday to assist people who live in rented houses or slums to purchase a house.

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The central aid under PMAY-G is released directly to the State/UT, with the State/UT regarded as a unit and they further allocate the money to recipients in various districts/blocks/GPs.

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She also announced plans to build 2 crore new houses for the rural poor over the next five years as part of the ongoing PM Awas Yojana (Grameen).

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The finance minister stated that despite the disruptions caused by the COVID-19 outbreak, the PM Awas Yojana (Grameen) was still being implemented.

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The Ministry of Rural Development has launched the Pradhan Mantri Awaas Yojana- Gramin (PMAY-G), which would offer assistance to qualified rural households from April 1, 2016, to achieve goal of 'Housing for All' in rural areas.

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