Economic Survey 2025: Govt To Include 3 Crore Additional Houses Under PMAY

President Droupadi Murmu declares the government's decision to further expand the vision of affordable housing for all

Updated on: 31 January 2025 2:36 pm

Photo: The Free Press Journal

The Economic Survey of 2024-25 is to be tabled today, to commence the budget session, by the Finance Minister Nirmala Sitharaman. Ahead of the presentation of the survey, President Droupadi Murmu addressed a joint session of the Lok Sabha and the Rajya Sabha. This economic survey, prepared under the guidance of the Chief Economic Advisor, V Anantha Nageswaran, provides an official evaluation of the country's current economic performance and national challenges.

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She reiterated the success of the Pradhan Mantri Awas Yojana and the significance it held in the welfare of society. PMAY was introduced in 2015, to provide pucca houses to eligible beneficiaries with the motto of "Housing For All". According to the data published by the government of India on June 10, 2024, under PMAY, 4.21 crore houses have been constructed for eligible families in the last 10 years. All these houses were provided with basic amenities like electricity connection, LPG connection, tap water, toilets, etc.

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During her speech, President Murmu declared that the Modi government has decided to further expand the program and to include 2 crore additional rural houses and 1 crore urban houses by the Financial Year 2024-29. She also lauded the government's commitment towards fulfilment of the dream of the middle class of having their own homes.

Further policy interventions, such as enhanced subsidies for the Economically Weaker Section (EWS) will be able to bring down financial constraints and improve the way of living. To expedite the "Housing For All" motto and its results, the Government of India is incorporating affordable housing for the EWS under Schedule VII of the Corporate Social Responsibility (CSR) provisions in the Companies Act to further empower the corporate bodies and foundations towards contributing to affordable housing for all.

In this joint session, the President highlighted several other government schemes that help foster social welfare and poverty alleviation. Among these were PM Vidya Lakshmi Yojana, PM Ujwala Yojana, PM Kisan Yojana, Swamitva Cards, Ayushman Bharat, Mudra Yojana, etc.