Pradhan Mantri Awas Yojana: A New hope for life.
India is a country with a population of more than 140 crore, so it is a deep-rooted problem in society to fulfill its aspirations. Nobody has basic requirements and amenities. The constant struggle for survival and security is the major concern of mankind. The government of India introduced a security measure to provide shelter by providing houses to people who are in need. Having an independent and self-claiming house is a dream for many, the poverty and pain of not having a house is unbearable.
The Pradhan mantri awas yojana provides shelter to poor and marginalized sections of society to give them a better future and security, so that they can live with dignity and feel empowered.
The PMAY was started in 2015 with a mission to provide houses. Till now, 125.15 lakh houses have been sanctioned, 97.3 lakh houses completed, the central assistance fund which was allocated 2.09 lakh crore. The data have been taken from the Ministry of housing and urban affairs website.
The eligibility for getting PMAY benefits: one should have ‘No’ pucca house and have never previously taken any benefits from the government. The policy majorly targets poor, middle class citizens who can't afford basic needs. A loan amount of 6 lakhs with a 6.5% subsidy is given to EWS citizens and a loan term of 20 years. The data has been taken from My gov website. The categories involved in LIG and MIG would be given from 9 lakhs to 12 lakh with an interest subsidy of 4 to 3%.
Advantages and Challenges
The government providing basic security gives poor people to uplift their lives. It gives hope to the citizens that the government's policies are effective and efficient. The houses provided can help generations to settle down and work on other things which are necessary to survive in society, like education, health and security for children. The government spending huge amounts of money on the PMAY scheme provides economic growth and development of the entire region where houses are being constructed. Overall economic growth of the nation and the reputation of the nation in the world over reduction of poverty. It proves how democratic procedures can create a huge change in society by giving such large-scale loans and helping the poor to build houses.
There might be bureaucratic hurdles and slow procedures for providing loans, and an increase in population could impact more eligible profiles to give more PMAY, which will make land allocation difficult. Lack of proper documents and mismanagement of documents to gain more benefits. Repayment of loan procedure in 20 years which can put more pressure on the government.
Our aim is to educate and bring awareness about policy.
