Pardhan Mantri Awas Yojana (Rural and Urban)

The "Pradhan Mantri Awas Yojana" (PMAY) is a flagship housing scheme launched by the Government of India with the aim of providing affordable housing to all eligible beneficiaries by the year 2022. The scheme primarily targets economically weaker sections (EWS), lower-income groups (LIG), and middle-income groups (MIG) in both urban and rural areas.

Key features of the Pradhan Mantri Awas Yojana include:

1. Subsidized Housing Loans: PMAY offers interest subsidies on home loans for eligible beneficiaries, making homeownership more affordable.

2. Affordable Housing Units: The scheme aims to promote the construction of affordable housing units through partnerships with public and private sector entities.

3. Incentives for Women and Minorities: PMAY provides special incentives for women and minority beneficiaries to encourage their participation in the housing program.

4. Slum Rehabilitation: PMAY includes provisions for the rehabilitation of slum dwellers by providing them with pucca houses and basic amenities.

5. Credit-Linked Subsidy Scheme (CLSS): Under PMAY, eligible beneficiaries can avail of subsidies on housing loans through the CLSS component, which is available for EWS, LIG, and MIG categories.

6. Rural Housing: The scheme also focuses on rural housing through initiatives such as the Pradhan Mantri Awaas Yojana - Gramin (PMAY-G), which aims to provide pucca houses with basic amenities to rural households.

Overall, the Pradhan Mantri Awas Yojana seeks to address the housing needs of the economically disadvantaged sections of society and promote inclusive urban and rural development across India.