Affordable housing is a major concern in a developing country like India. The increasing population in our country is unable to cope with the space crunch in villages or cities. Moreover, the increased migration of rural population to cities is increasing the development of slums in these areas. The outcome of such sorry situations is disastrous, as people living in these areas have to face frequent water shortage, power shortage, unhygienic conditions and a general decline in the overall standard of living. As a plausible solution to this problem, the government introduced the Pradhan Mantri Awas Yojana in the year 2015.
The Pradhan Mantri Awas Yojana (PMAY) is an initiative taken by the Government of India which aimed at providing affordable housing will be provided to the Urban and Rural population and building 20 million houses by the year 2022. It is a housing scheme under which eligible beneficiaries can avail home loan subsidy. The reduced subsidy on the interest rate and EMI amount is done with a view to encourage first-time homebuyers to avail the home loan facility.
Apart from making housing affordable for all by the year 2022, the PMAY also aims to provide other basic facilities such as water, LPG cylinders, and electricity across all houses. In accordance with these goals, the government has converged several schemes with the PMAY. Some of the key schemes linked with PMAY include-
1. Swacch Bharat Abhiyaan
The Swatch Bharat Abhiyaan is a government campaign launched by Prime Minister Of India, Shri Narendra Modi in the year 2014. Under this scheme, the government aims to reduce the unhygienic conditions prevalent in most Indian cities and villages. The main objective of this campaign is to reduce open defecation in our country. To reach this goal, the government plans to provide house-owned as well as community-owned toilets across the country. The Swacch Bharat Abhiyaan is the government’s largest cleanliness drive till date and has over 3 million volunteers across the country. The scheme primarily operates under two components-
Swachh Bharat Abhiyan Gramin / Rural- operated under the Ministry of Drinking Water and Sanitation
Swachh Bharat Abhiyan Urban- operated under the Ministry of Housing and Urban Affairs
A lot of prominent personalities from film, sports, and political fraternity, have been closely associated with these campaigns. Some of the key names include Amitabh Bachchan, Sachin Tendulkar, Padmanabha Acharya, Shashi Tharoor, and Priyanka Chopra. To check the progress of these schemes across States and cities, the Ministry of Urban Development carries out a survey every year. According to a 2017 survey, the Swachh Bharat Abhiyaan has managed to achieve a positive outcome; with the overall coverage of “household access to the toilet” increasing to up to 91.3%.
2. Saubhagya Yojana
The Saubhagya Yojana, also known as the Pradhan Mantri Sahaj Bijli Har Ghar Yojana, is a government project that aims to provide electricity across households. Eligible houses identified under Socio-Economic and Caste Census (SECC) can avail the benefit of free electricity connections under this scheme. As of June 2019, more than 91% of the rural households have received electricity access under this scheme.
3. Ujjwala Yojana
The Pradhan Mantri Ujjawala Yojana is a government initiative launched by our Prime Minister in the year 2016. Women belonging to Below Poverty Line segment of the society can avail LPG connections under this scheme. A total budget of INR. 800 billion is set for the Ujjwala Yojana. The government intends to make use of these funds by providing 50 million LPG connections to eligible beneficiaries. The scheme has been well-received by the masses and an increase in LPG consumption by 56% has been seen in the year 2019 as compared to 2014.
4. Pradhan Mantri Jan Dhan Yojana
The Pradhan Mantri Jan Dhan Yojana is an exclusive financial inclusion program, initiated by the Government of India in the year 2014. The program aims to make financial services such as pensions, remittance, bank accounts, credits, insurance, etc. more affordable to the population between the age group of 20-65 years. The key benefits under this scheme include the requirement of minimum balance to open no-frills bank accounts, with an overdraft facility up to INR.10,000 after six months. Beneficiaries can also enjoy relaxation on the KYC norms and the ability to take help from business correspondents in remote areas with no physical branches. The scheme has been well-received and as many as 318 million bank accounts were opened under this scheme as of 2018.
The end goal of all these schemes is to provide basic facilities to families belonging to the economically weaker section of the society. Not only will this help in elevating the standard of living of people in these rural and urban areas but will also contribute to the overall development of our country in the long run. If the applicants fulfill the respective eligibility criteria specified under these schemes, they can easily access these schemes online on their official website. For Pmay online apply, applicants can visit https://pmaymis.gov.in/. The applicants can avail home loan subsidy as per their eligible income component (EWS, LIG, and MIG 1&2). Once the online application process is complete, the applicants can approach the banks or other money lending institutes that are covered under the PMAY program. You can even make use of an online housing loan EMI calculator to check the subsidy you can get on your home loan EMI.
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