Reasons for Failure of PMAY-U

   Sarkari Yojana 1 Comments

As we all are aware about the Prime Minister Narendra Modi’s Pradhan Mantri Awas Yojna (PMAY), which was made for providing affordable houses to the poor sector people. The aim of this scheme is to build 2 crore houses by 2022 for the rural and urban sector. But if look on the current position and results of this scheme, it is not that good which should have to be. Let us look about the reasons for the failure of this scheme, for which we have given you the information below.

Pradhan mantri awas yojana criticism

As in this scheme houses will be provide to both sector rural and for urban. The current position of this scheme for urban areas is that, out of the target of 40 lakh only 8% that is 3 lakh houses have been constructed. If we move towards rural areas the position is quite better in comparison with that of urban areas, as out of 95 lakh target, 30% or we can say 29 lakh houses have been completed since the launch of this plan.

प्रधानमंत्री आवास योजना शहरी

Firstly this scheme was made only for rural sectors but after the new budget there were some changes done in this scheme and housing for urban sector is also included in it. For urban sector the scheme made a target of “housing for all” by the year 2022. but as the work says that barely 3 lakh of the houses were made out of the target of 40 lakh. The budget of this scheme for urban has been increased to Rs 6500 crore from Rs 6,043 crore during 2017-19. The shortfall of houses in the urban areas is also revised down to 11 from 18 millions.

REASONS for Failureimg1

PMAY Interest subsidy lowered

There were also some changes made in order to give a push to this scheme. Prime Minister Modi announced the decision to double the loan amount for interest subsidy. Previously on the loan of 9 lakh there is a interest subsidy of 4% can be taken but now on 1.2 million will get intervention of 4%.

The aim which housing ministry is trying to achieve is not a bit endearing. The current data of the working of this scheme is not giving us a satisfying relief. Let’s see whether this scheme will achieve it’s aim of “housing for all” or not.

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