Finance

NOW, A HOME FOR ALL

Pradhan Mantri Awas Yojana (PMAY) is a programme by Government of India to ensure Housing for all by 2022. Under this scheme, affordable houses will be built in selected cities and towns using eco-friendly construction methods for the benefit of the urban population in India. Also, under the Credit Linked Subsidy Scheme, beneficiaries under PMAY are eligible for interest subsidy if they avail a loan to purchase or construct a house.

Eligibility to avail the scheme 

• Any household with a total annual income between Rs. 6 lakh to Rs. 18 lakh can apply for the PMAY. The applicant is allowed to include the income of the spouse while applying for this scheme
• The beneficiary can only buy a new house in order to enjoy PMAY benefits. People who already own a house are not eligible to apply to this scheme. No pucca should be owned by the beneficiary or member of the family, in any part of the country
• People will be allowed to buy/construct new houses only. One cannot avail PMAY benefits on an already built house
• Senior citizens and differently abled will be given special priorities for ground floor housing

• Public transport service to be strengthened with a grant of direct subsidy of `100 crores to Bengaluru Metropolitan Transport Corporation
• 4,236 new buses for public use. Out of this, under the Karnataka Government Electric Vehicle Policy - 2017, 80 electric buses to be operated through Bengaluru Metropolitan Transport Corporation
• 95 km length routes under stage 3 of ‘Namma Metro’ Rail scheme under implementation
• Establishment of an Integrated Road Transport  Authority under the chairmanship of Chief Minister to formulate a comprehensive working and action plan
• Construction of six interconnected elevated corridors at a cost of `825 crores under hybrid annuity to provide good transport communication in Bengaluru

Source: www.thenewsminute.com Thursday, 5 July 2018