In order to meet its targets under the Pradhan Mantri Awas Yojana (PMAY), the Ministry of Rural Development has planned to construct over two crore houses in rural India by the end of 2022. Furthermore, the Ministry has identified a few States which were lagging behind in achieving the targets under the scheme.
The Ministry of Rural Development intends to construct nearly 2.15 crore houses in rural areas under the Pradhan Mantri Awas Yojana (PMAY) by the end of 2022. Reportedly, there is a funding requirement of Rs 2.86 lakh crore, out of which Rs 90,000 crore is likely to be funded by the beneficiary States. The remaining amount will be funded by the Central Government.
According to sources, nearly 1.26 crore houses have been constructed under PMAY (Rural) so far. The target, however, for the same had been 1.46 crore houses which were to be construed by the end of the financial year 2018-19. Consequently, States such as Bihar, Andhra Pradesh, Kerala, Jammu and Kashmir, and Tamil Nadu have been identified to achieve the set targets. The data pertinent to the same revealed that the said States were lagging in meeting the targets under PMAY.
As per the sources, the Government plans to have budgetary support of Rs 72,361 crore in the next three years for the said purpose. Additionally, it intends to borrow Rs 84,273 crore from other sources such as the National Bank of Agriculture and Rural Development (NABARD) and National Housing Bank (NHB).