In his Independence Day speech, Narendra Modi mentioned ensuring affordable credit for poor and middle-class housing.
PM Modi at Red Fort (Photo: IANS)
Prime Minister Narendra Modi on Saturday reviewed the preparations to implement his Independence Day promise to ensure affordable credit for poor and middle-class housing and solar power for households.
Senior officials briefed PM Modi on how the two commitments made by him were to be executed. He also suggested ways to expedite the schemes which would help the poor and the middle class.
“In his Independence Day speech, the PM mentioned about ensuring affordable credit for poor and middle-class housing. In line with this announcement, PM Modi reviewed the preparations to implement this announcement,” an official statement said. It said the PM also reviewed preparations to execute the scheme for ensuring solar power for households.
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Speaking from the ramparts of the Red Fort on 15 August, Mr Modi announced the government would come out with a new scheme to help the poor and middle-class families living in cities to build their own houses.
“We are coming up with a new scheme in the coming years that will benefit those families that live in cities but are living in rented houses, or slums, or chawls and unauthorised colonies,” he said.
Mr. Modi said that the government would provide interest relief on loans from banks that would help them save lakhs of rupees. “Earlier, Rs 90,000 crore were spent to build the houses of the poor; today it has increased four times, and more than Rs 4 trillion are being spent to build the houses of the poor,” he said.
The government allocated Rs 79,000 crore in the Union Budget for FY24 for the Prime Minister Awas Yojana (PMAY). Of this fund, around Rs 54,000 crore is meant for PMAY-Gramin, and about Rs 25,000 crore is dedicated to PMAY-Urban to meet expenditure under sanctioned projects.
The PM has always held the view that everyone should try to generate power through solar and make India a powerful country. He has emphasised that the energy sector will play a huge role in accelerating India’s progress over the next 25 years.
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