PMAY-U 2.0 Context: The Government approved more than 2.13 lakh additional houses under Pradhan Mantri Awas Yojana-Urban 2.0. With these approvals, the total number of houses sanctioned under PMAY-U 2.0 has crossed 16.13 lakh Pradhan Mantri Awas Yojana–Urban 2.0 (PMAY-U 2.0) About PMAY-U 2.0, launched in 2024, is the upgraded version of the Pradhan Mantri Awas Yojana–Urban (PMAY-U) introduced in 2015. It seeks to provide all-weather pucca houses to one crore poor and middle-class urban families through construction, purchase, or rental options. The scheme will be implemented for five years by States, Union Territories, and Primary Lending Institutions (PLIs). The Centre has earmarked ₹10 lakh crore for the programme, including ₹2.30 lakh crore as subsidy support. Eligibility Beneficiary families should not own a pucca house anywhere in India in the name of any family member. The scheme covers: Economically Weaker Section (EWS): Annual income up to ₹3 lakh. Low Income Group (LIG): Annual income between ₹3 lakh and ₹6 lakh. Middle Income Group (MIG): Annual income between ₹6 lakh and ₹9 lakh. An adult earning member without ownership of a house is treated as a separate household for eligibility purposes. Coverage PMAY-U 2.0 covers all statutory towns identified in Census 2011 and those notified later by State Governments. Areas under Urban Development Authorities, Industrial Development Authorities, and notified Planning Areas are also included. Under In-situ Slum Redevelopment, eligible slum dwellers receive a grant of ₹1 lakh per house. Interest Subsidy Scheme (ISS) Provides a 4% interest subsidy on housing loans up to ₹25 lakh, for houses costing up to ₹35 lakh. The subsidy applies to the first ₹8 lakh of the loan with a repayment period of 12 years. Beneficiaries can receive a maximum subsidy of ₹1.80 lakh, credited in five annual instalments to their bank accounts.
HISTORY
Important Days World Tribal Day The day is also known as International Day of the World’s Indigenous The day is observed on August 9 every year to raise awareness about challenges like land rights and socio-economic disparities of indigenous people. Theme 2024: “Protecting the Rights of Indigenous Peoples in Voluntary Isolation and Initial Contact”. The day was declared by the United Nations General Assembly (UNGA) in 1994. Appointments Panel to monitor the safety of Indians in Bangladesh Union Government has appointed a five-member committee to ensure the safety and security of Indian nationals, Hindus, and other minority communities in Bangladesh. It is led by a senior Border Security Force (BSF) About Bangladesh Capital – Dhaka Currency - Bangladeshi Taka President - Mohammed Shahabuddin PMAY-U 2.0 The Union Cabinet approved the Pradhan Mantri Awas Yojana-Urban (PMAY-U) 0 scheme recently Objective – To provide financial assistance to one crore urban poor and middle-class families to construct, purchase or rent a house at affordable Aim - To provide all-weather pucca houses to all eligible beneficiaries in the urban areas A total government subsidy of ₹2.30 lakh crore will be provided under the It will have a total investment of ₹10 lakh
