Budget 2025 | – CNBC TV18

Finance Minister Nirmala Sitharaman on Saturday, February 1, proposed ₹19,794 crore for the government’s flagship low-cost housing scheme, Pradhan Mantri Awas Yojana (PMAY). In the Union Budget for 2025-26, PMAY-Urban received a 36% increase in funding, up from the revised estimate of ₹13,670 from last July’s Budget.Catch all the updates from the 2025 Union Budget here.Since its inception in 2015, the Pradhan Mantri Awas Yojana (PMAY) has become one of the flagship initiatives of the Modi government. The initiative was introduced to address the country’s housing needs by encouraging low-cost housing projects.The scheme was announced with the slogan, “Housing for All by 2022”, a milestone the government has yet to achieve in its third successive term.The scheme has a sub-scheme, the PMAY-Urban (PMAY-U), under which the government has reported sanctioning 11.86 million houses to date. Of these, 9 million houses have been completed. The urban leg of the scheme has seen an investment of over ₹8 lakh crore so far.PMAY Budget over the YearsFinancial YearBudget EstimateRevised Estimate2018-19₹ 27,505 crore₹ 26,405 crore2019-20₹ 25,853.00₹ 25,328 crore2020-21₹ 27,500.00₹ 40,500 crore2021-22₹ 27,500.00₹ 47,390 crore2022-23₹ 48,000.00₹ 73,615 crore2023-24₹ 79,590.00₹ 54,103 crore2024-25₹ 84,671.00-The sub-scheme’s rural counterpart, PMAY-Gramin (PMAY-G), was launched in 2016 with the objective of providing financial aid for rural households to construct durable homes. As of January 26, 2025, official data indicates that 32.3 million houses have been sanctioned, with 26.9 million completed.In the 2023-24 fiscal, the actual expenditure was significantly lower, at ₹54,103 crore, than the budget estimate of ₹79,590 crore. Despite this underutilisation, in the July 2024 Budget, the government projected an increased allocation of ₹84,671 crore for the programme.Experts suggest that the prospect of elections influenced the decision to increase the allocation in Maharashtra, Haryana, Jharkhand, and Jammu and Kashmir. These regions not only have substantial rural populations, but also are home to major urban centres such as Mumbai, Gurugram, Pune, and Nagpur, where the scheme’s impact resonated strongly with voters.

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