Indira Awas Yojana (IAY) Renamed to Pradhan Mantri Gramin Awas Yojana(PMGAY) by PM Modi

Published Date - 21 September 2017 02:13:30 Updated Date - 25 October 2017 06:10:45

In yet PM Narendra Modi  has changed the name of 'Indira Awaas Yojana'. Now, it will be known as 'Pradhan Mantri Gramin Awaas Yojana'.Also, the Modi government has increased the amount sanctioned for this housing scheme. Now, people entitled to the benefits of the housing scheme will get Rs 1.20 lakh. Earlier, the sanctioned amount was Rs 70,000.Moreover, under the redesigned scheme - Pradhan Mantri Awaas Yojana - beneficiaries will be able to take a loan of Rs 70,000. In addition to above benefits, Rs 12,000 will be given to construct toilet.It is a social welfare flagship programme by government of India to provide housing for the rural poor.

Narendra Modi Government, making one of the biggest changes in its rule has renamed Indira Awas Yojana (IAY). The scheme will now be known as Pradhan Mantri Gramin Awas Yojana, if media reports are to be believed.

Launched in 1985 by then Prime Minister Rajiv Gandhi, the scheme is a rural housing scheme. This is the first time the scheme has been renamed according to Reports in Amar Ujala.

Its not just the name, the central government has also increased the amount to be sanctioned under the “Pradhan Mantri Gramin Awas Yojana” scheme. Under the new scheme, an financial assistance of Rs. 120,000/- in plain areas and Rs. 130,000/- in hilly areas will be provided for construction of homes. A loan of up to Rs. 70000/- can also be availed by the beneficiaries, but it is optional.

In the new rural housing scheme, the government has also increased the unit area from existing 20 sq.mt. to up to 25 sq.mt. including a dedicated area for hygienic cooking. The government will also provide an additional assistance of Rs. 12000/- to each beneficiary to construct toilet in the housing unit.

The new Pradhan Mantri Gramin Awas Yojana will be implemented with a budgetary provision of Rs. 81,975 in a span of three years from 2016-17 to 2018-19. Under the scheme, government has set a target of developing 1 Crore Pucca homes for the rural poor in these 3 years.

 

What  was in IAY ?

Under Indra Awas Yojana(IAY), previous  government has set a target of constructing 38 lakh houses by end of the current financial year (2015-16), out of which 10 lakh have been completed so far Indra Awas Yojana(IAY) was launched by Rajiv Gandhi in 1985. Indra Awas Yojana(IAY) is now in the 60:40 ratio, except in the case of North-Eastern states and Union Territories (UTs).

What  is new in PMAY

Under the new modified Pradhan mantri Awas Yojana ( PMAY) scheme, the sharing pattern between the center and states is same  i.e in a ratio of 60 by 40, but new change is that  the grant will be transferred directly into the bank account of beneficiaries, who have been selected on the basis of socio-economic caste census of 2011.

Note  – Also those who are living in plains will receive a grant of Rs 1.20 lakh, with Rs 1.30 lakh for those living in hilly areas.

 

 


Pankaj bhupatsing padvi

01-12-2017

Respected sir/madam, We don't know what type of interest rate applied on Rs. 70000/. And whether the rate of interest is simple, compound or no interest for BPL beneficiaries. That's why many type of question are in our mind regarding the loan amount. So please mail a proper & latest updated circular to my email id as soon as possible.

Leave Your Comment Here