New Delhi: Finance Minister Nirmala Sitharaman on Thursday announced a scheme to help sections of the middle class living in rented houses, slums, or chawls and unauthorized colonies to buy or build their own houses.
Presenting the Interim Union Budget 2024-25, she also highlighted the achievement of the Pradhan Mantri Awas Yojana (Grameen).
She said despite the challenges due to the coronavirus pandemic, implementation of the Yojana continued and the government is close to achieving the target of 3 crore houses. She said 2 crore more houses will be taken up in the next five years to meet the requirement arising from increase in the number of families.
The Pradhan Mantri Gramin Aawas Yojana is a social welfare programme, created by the Centre, to provide housing for the rural poor in the country. A similar scheme for the urban poor was launched in 2015.
Sitharaman presented her sixth budget in a row on Thursday. In her Budget speech, she said the Indian economy has witnessed a profound transformation in the last 10 years and that the Narendra Modi government carried out structural reforms and implemented pro-people programmes.
She noted that the government will continue on the path of fiscal consolidation to reduce the fiscal deficit to 4.5% in 2025-26. She did not propose any changes relating to taxation and said the government proposes to maintain the same tax rates for direct and indirect taxes, including import duties.
This budget will be the last one by the Modi government before the country faces general elections.

KR Desk