Budget allocates funds to build 1 cr houses in cities: Union minister

Union Housing and Urban Affairs Minister Manohar Lal said on Wednesday that in the 2024-25 Budget presented by Finance Minister Nirmala Sitharaman a day earlier, there is a provision to fund one crore houses in cities.

“In the Union Budget, several schemes have been announced for the welfare of every section of society. The Budget has also focused on infrastructure. Allocation has been made for construction of one crore houses,” Manohar said.

On Tuesday, the government announced central assistance of Rs 2.2 lakh crore over the next five years to meet the housing requirement of one crore urban poor and middle-class families under the Pradhan Mantri Awas Yojana-Urban and proposed interest subsidy to provide loans at affordable rates.

According to the government, under the PM Awas Yojana Urban 2.0, housing needs of one crore urban poor and middle-class families will be addressed with an investment of Rs 10 lakh crore.

Talking about budgetary allocation for cities, the minister said in the Budget, the government has made provision for several projects for holistic development of urban areas.

He said the government has also announced a transit-oriented development plan for 14 large cities with a population of over 30 lakh in its Budget for 2024-25.