1. Home
  2. Blog
  3. UPSC

Middle-Class Housing Scheme

Why is it in the news?

  • The Finance Minister recently announced a Middle-class housing scheme, aligned with the ‘Housing for all’ policy, to address the housing needs of the middle class.
  • The scheme was announced as part of the fiscal year 2024-25 budget.

About the Scheme

  • The scheme aims to provide assistance to middle-class individuals residing in various types of accommodations such as rented houses, slums, chawls, and unauthorized colonies.
  • Assistance could include financial support, subsidies, or incentives to enable middle-class individuals to purchase or construct their own homes.
  • Unlike the Pradhan Mantri Awas Yojana (PMAY), which primarily targets the urban and rural poor, this scheme specifically caters to the middle-income group.
  • It is not an extension of PMAY but a standalone initiative under the broader ‘Housing for all’ policy.
  • The scheme introduces new criteria for identifying beneficiaries, including income levels, location preferences, and the type of accommodation required.
  • By defining specific parameters, the government aims to ensure that assistance reaches those who genuinely need it and belong to the middle-income bracket.
Pradhan Mantri Awas Yojana (PMAY)

·       Launched by the Government of India with the aim of providing affordable housing for all by 2022.

·       It is one of the flagship schemes under the ‘Housing for all’ initiative.

·       PMAY has two components: Pradhan Mantri Awas Yojana (Urban) (PMAY-U) and Pradhan Mantri Awas Yojana (Gramin) (PMAY-G).

·       PMAY-U focuses on providing affordable housing solutions for the urban poor, while PMAY-G targets the rural poor.

·       PMAY-U is administered by the Ministry of Housing and Urban Affairs, highlighting its urban focus.

·       PMAY-G is administered by the Ministry of Rural Development, emphasizing its rural-centric approach.

Get free UPSC Updates straight to your inbox!

Get Updates on New Notification about APPSC, TSPSC and UPSC

Get Current Affairs Updates Directly into your Inbox

Discover more from AMIGOS IAS

Subscribe now to keep reading and get access to the full archive.

Continue reading