Nirmala Sitharaman Announces Rs 10 Trillion Investment In Expanded PMAY-U Scheme

New Delhi, Jul 23 (KNN) Finance Minister Nirmala Sitharaman has unveiled a significant expansion of the Pradhan Mantri Awas Yojana-Urban (PMAY-U) in the latest budget announcement.

The scheme, now entering its second phase, aims to address the housing needs of 10 million poor and middle-class families across India's urban areas.

According to Sitharaman, the government plans to invest a total of 10 trillion rupees in this ambitious housing initiative over the next five years.

This includes a substantial central assistance component of 2.2 trillion rupees.

The Finance Minister stated, "Under the PM Awas Yojana-Urban 2.0, we will tackle the housing requirements of 1 crore poor and middle-class families."

This move represents a significant scaling up of the government's efforts to provide affordable housing in urban areas.

The announcement comes as part of the broader budget strategy to boost infrastructure and address urban development challenges.

(KNN Bureau)