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    Question

    What was the key announcement made by Finance Minister

    Nirmala Sitharaman regarding affordable housing?
    A Launching the Pradhan Mantri Awas Yojana (PMAY) Correct Answer Incorrect Answer
    B Building two crore houses for the urban poor Correct Answer Incorrect Answer
    C Allocating ₹77,523 crore for housing in 2024-25 Correct Answer Incorrect Answer
    D Providing loans to MSMEs for housing projects Correct Answer Incorrect Answer
    E Enhancing the credit guarantee fund for housing Correct Answer Incorrect Answer

    Solution

    Providing a boost to affordable housing, Union Finance Minister Nirmala Sitharaman announced that the government would launch a scheme to help “deserving sections of the middle class living in rented houses or slums or chawls and unauthorised colonies” buy or build houses. Two crore more houses would be built under the flagship Pradhan Mantri Awas Yojana (PMAY)-Rural. The PMAY has two components — PMAY (Urban) for the urban poor under the Ministry of Housing and Urban Affairs, and PMAY (Rural) for rural India under the Ministry of Rural Development. The allocation for the Housing and Urban Affairs Ministry for 2024-25 is ₹77,523 crore, up from ₹76,431 crore in 2023-24. The total allocation for PMAY is ₹80,671 crore, of which ₹54,500 crore is for PMAY (Rural).

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