Union Budget 2023-24: 66% hike in Pradhan Mantri Aawas Yojana outlay to Rs 79,000 crore
The Union government will create Urban Infrastructure Development Fund on the lines of the Rural Infrastructure Development Fund and it will be managed by the National Housing Bank, says Finance Minister.
Indian Finance Minister Nirmala Sitharaman. Photo- AP
New Delhi: Finance Minister Nirmala Sitharaman on Wednesday announced a 66 per cent hike in the Pradhan Mantri Aawas Yojana (PMAY) outlay to Rs 79,000 crore.
Presenting the Union Budget 2023-24, she said states and cities will be encouraged to take up urban planning. She also said that the Union government will create Urban Infrastructure Development Fund on the lines of Rural Infrastructure Development Fund and it will be managed by the National Housing Bank.
The central government will spend Rs 10,000 crore per year for urban infrastructure development fund. All cities and towns will be enabled for 100 per cent transition of sewers and septic tanks from manhole to machine hole mode, the minister added.
Related Articles
Read all the Latest News, Trending News, Cricket News, Bollywood News,
India News and Entertainment News here. Follow us on Facebook, Twitter and Instagram.
also read
Budget 2023-24 Expectation: Government should increase access to housing by reducing cost of construction
Over the past few Budgets, the prioritisation of funding to urban development programmes, including the Smart Cities Mission, AMRUT, and Pradhan Mantri Awas Yojana, has significantly contributed to positive urban growth in India. The trend should continue this year as well
Budget 2023: Post-pandemic, real estate sector critical for larger economic landscape
Reducing GST burden for under-construction properties is a good way to kickstart a virtuous cycle to sustain housing demand
Budget 2023-24: With EMI burden rising, Govt must offer incentives to boost growth
The real estate developer community hopes the next Budget of 2023 will address some problems ailing the industry