FM Sitharaman Announces ₹2.2 Lakh Crore Boost for Urban Housing

On July 23, Finance Minister Nirmala Sitharaman unveiled a ₹2.2 lakh crore initiative to enhance urban housing, targeting one crore urban poor and middle-class families. This is part of a larger ₹10 lakh crore allocation. The Pradhan Mantri Awas Yojana (PMAY) will expand to include provisions for three crore more houses. Launched in 2015, PMAY aims to provide durable homes with essential amenities. The Interim Budget earlier revised PMAY's allocation to ₹80,671 crore, addressing housing shortages and facilitating the completion of 4.21 crore houses over the past decade.