FM Nirmala Sitharaman Announces Scheme To Facilitate Homeownership For Middle-Class In Interim Budget 2024-25

New Delhi [India] : In an announcement during the presentation of the Interim Budget 2024-25, Union Minister for Finance and Corporate Affairs, Nirmala Sitharaman unveiled a new scheme aimed at assisting deserving sections of the middle class residing in rented houses, slums, chawls, and unauthorized colonies to purchase or construct their own homes.

Sitharaman, while addressing the Parliament, underscored the government’s commitment to inclusive development.

She highlighted the pressing need to support individuals from the middle class facing housing challenges in various forms, and the newly proposed scheme is tailored to address these concerns.

The Finance Minister emphasized the accomplishments of the Pradhan Mantri Awas Yojana (Grameen), stating that despite the challenges posed by the COVID-19 pandemic, the implementation of the scheme persisted.

She proudly announced that the government is on the verge of achieving the ambitious target of providing three crore houses under the PM Awas Yojana (Grameen).

Looking ahead, Sitharaman revealed the government’s plan to take up the construction of an additional two crore houses in the next five years.

This strategic move is in response to the growing demand arising from the increase in the number of families across the nation.

The Finance Minister’s announcement reflects a proactive approach to addressing the evolving needs of citizens and ensuring adequate housing for all.

Sitharaman highlighted the government’s comprehensive approach to development, encapsulated by the principles of being all-round, all-pervasive, and all-inclusive. The overarching goal is to transform India into a ‘Viksit Bharat’ by the year 2047.

The scheme to support middle-class individuals in acquiring their own homes aligns with the government’s vision of uplifting various sections of society and fostering economic growth.

As the Interim Budget undergoes thorough scrutiny, this housing initiative is expected to garner attention and support from both policymakers and the public. The announcement reflects a commitment to realizing the aspirations of the middle class and ensuring housing accessibility for all segments of society.