On Thursday, Finance Minister Nirmala Sitharaman unveiled the Indian government’s forthcoming housing scheme tailored for the deserving middle class in her sixth consecutive budget. The initiative aims to empower middle-class people to either acquire or construct their own homes.
Furthermore, Sitharaman emphasised the government’s commitment to fostering sustainable development and enhancing productivity through an economic strategy outlined in the interim budget.
During the announcement, the Finance Minister appreciated the achievements of the PM Awas Yojana (Grameen), highlighting its continuity throughout the COVID-19 pandemic. The government is on the verge of reaching its target of three crore houses, with plans to construct an additional two crore houses over the next five years in respect of the growing number of families.
Another significant aspect of the plan is the promotion of rooftop solarization, which promises to provide 300 units of free electricity per month to one crore households. This initiative is projected to save households between Rs. 15,000 and Rs. 18,000 annually. Moreover, the government plans to leverage existing hospital infrastructure to establish more medical colleges.
Lastly, the budget prioritises the development of the eastern region of India and its residents, underscoring the government’s commitment to equitable progress and regional prosperity.