Cabinet clears ₹76,500-cr for PMAY Phase-2 housing

The Union Cabinet recently cleared ₹76,500 crore for Phase-2 of the Pradhan Mantri Awaas Yojana-Gramin (PMAY-G) to build 1.95 crore houses by 2022. The decision is a part of the continuation of rural housing scheme till 2019-20 and will continue as per the existing norms of PMAY-G Phase-l, with a target of 60 lakh houses. The Centre's share would of ₹48,195 crore while the states will chip in ₹28,305 crore.

The government has also decided to continue the Program Management Unit (PMU) and National Technical Support Agency (NTSA) till 2019-20. Borrowing for additional financial requirement through existing mechanism of EBR will also continue till the validity of the scheme, said official sources.