Daily Current Affairs for TNPSC Group Exams, Upsc Exams, SSC, RRB, BANK & All Government Exams

Pradhan Mantri Awas Yojana-Urban

GS Paper – 2 Poverty Welfare Schemes, Government Policies & Interventions, Issues Relating to Development.

Why in the news?

• Pradhan Mantri Awas Yojana (PMAY)- Urban has celebrated seven years of successful implementation.
• PMAY-U has so far sanctioned 122.69 lakh houses with a total investment of Rs 8.31 lakh Crore, of which more than 1 crore houses have been grounded and over 61 lakh houses have been completed and delivered to beneficiaries.

What exactly is the Pradhan Mantri Awas Yojana-Urban?

About:

• The Pradhan Mantri Awas Yojana (PMAY) is part of the Government’s Housing for All by 2022 objective for urban housing, which is being implemented by the Ministry of Housing and Urban Affairs (MoHUA).
• It makes house loans more affordable for the urban poor by subsidising the interest rate on a home loan during repayment via EMI (Equated Monthly Installments).

Beneficiaries:

• The Mission addresses urban housing need among the EWS/LIG and MIG categories including the slum residents.
• Economically Weaker Section (EWS) – has a maximum annual family income of Rs. 3,00,00.
• Low Income Group (LIG) – a family with a maximum annual income of Rs. 6,00,000) and
• MIG I and II (with a maximum annual family income of Rs. 18,00,000)
• A beneficiary family will consist of a husband, wife, and unmarried sons and/or daughters.

PMAY-U has four verticals:

ISSR (In Situ Slum Redevelopment):

• This vertical will be developed under the concept of “Land as a Resource,” with private sector engagement, in order to provide housing to eligible slum inhabitants.
• Slum: A compact neighbourhood of at least 300 people, or approximately 60 – 70 homes of badly built packed tenements in an unsanitary environment, typically with inadequate infrastructure and a lack of proper sanitary and drinking water services.

Credit Linked Subsidy (CLSS) for Affordable Housing:

Beneficiaries of EWS, LIG, MIG (I & II) obtaining housing loans from banks, housing finance companies, and other such organisations for the acquisition, new construction, or enhancement of houses are entitled for the following interest subsidy:

• 6.5 percent on loan amount up to Rs. 6 Lakh
• 4% on loan amounts up to Rs. 9 lakh
• 3% on loan amounts up to Rs. 12 lakh
• Partnership for Affordable Housing (AHP):

An affordable housing project can include a mix of dwellings from various categories, but it will be eligible for Central Assistance if at least 35% of the houses in the project are in the EWS group.

Individual house construction led by beneficiaries (BLC):

• Central assistance of up to Rs. 1.5 lakh per EWS house is granted to qualified EWS families for individual house construction/improvement.

Daily Current Affairs 27 June 2022

Demand-driven Strategy:

• PMAY-U takes a demand-driven strategy, which strengthens the idea of cooperative federalism by determining housing shortages based on demand assessments by states/union territories (UTs).
• Except for the CLSS vertical of the PMAY-U, which is implemented as a Central Sector Scheme, the Mission is implemented as a Centrally Sponsored Scheme (CSS).
• The Union government funds and implements Central Sector Schemes entirely.
• A portion of the money for the Centrally Sponsored Scheme (CSS) is borne by the states, while the implementation is carried out by the state governments.

Geotagging:

• Geotagging is the addition of location information to various media such as photos.
• The state government is required by the PMAY-U rules to ensure that all dwellings built under the scheme are geotagged to the Bhuvan HFA (housing for all) application.
• The Indian Space Research Organization created the Bhuvan Indian Geo Platform (ISRO).
• It is a web-based application that provides users with access to a variety of map-related services.

Female Empowerment:

• The Mission encourages female empowerment by allowing female members to buy homes in their own names or in joint names.
• Women are also given preference (with preference given to widows and unmarried women), those from Scheduled Castes/Scheduled Tribes/Other Backward Classes, minorities, people with impairments, and transgender people.

PMAY-U initiatives include:

• ARHCs (Affordable Rental Housing Complexes):
• It’s a sub-scheme of PMAY-U.

This will make it easier for urban migrants and the underprivileged in the industrial sector as well as in non-formal urban economies to find dignified, cheap rental home close to their workplace.

Global Housing Technology Difficulty:

• It intends to find and mainstream a basket of sustainable, eco-friendly, and disaster-resilient construction technologies from around the world for the house construction sector.

CLSS Awas Portal:

• It is a common platform on which all stakeholders, including the MoHUA, Central Nodal Agencies, Primary Lending Institutions, Beneficiaries, and Citizens, can interact in real time.
• The platform streamlines application processing and allows beneficiaries to track their subsidy status.

Source: PIB