Indira Awas Yojana changed to Pradhan Mantri Awas Yojana by Center Government

Latest News –  The flagship rural housing scheme Indira Awaas Yojana (IAY), started by former Prime Minister Rajiv Gandhi, has been restructured and renamed as Pradhan Mantri Awaas Yojana (PMAY), which will be launched next month.The IAY will be classified by the PMAY from April 1 next year. Under the new scheme, the government is aiming to construct one crore houses by 2019, according to sources.

All the decision has been approved by the central government. Under this new scheme, the government is aiming to construct one crore houses by 2019, according to sources.

What was in IAY –

Under IAY, previous  government has set a target of constructing 38 lakh houses by end of the current financial year (2015-16), out of which 10 lakh have been completed so far . IAY was launched by Rajiv Gandhi in 1985. IAY is now in the 60:40 ratio, except in the case of North-Eastern states and Union Territories (UTs).

What  is new in PMAY

Under the new modified PMAY scheme, the sharing pattern between the center and states is same as IAY in a ratio of 60 by 40, but new change is that  the grant will be transferred directly into the bank account of beneficiaries, who have been selected on the basis of socio-economic caste census of 2011.

Eligibility Criteria For PMAY:

  • Economically Weaker Section (EWS) – Families with an annual income up to Rs. 3 Lakh.
  • Low Income Group (LIG) – Families with an annual income between Rs. 3 Lakh and Rs. 6 Lakh.
  • Middle Income Group I (MIG I) – Families within an annual income between Rs. 6 Lakh and Rs. 12 Lakh.
  • Middle Income Group II (MIG II) – Families with an annual income between Rs. 6 Lakh and Rs. 12 Lakh.
  • Women belonging to EWS and LIG categories.
  • Scheduled Caste (SC), Scheduled Tribe (ST), and Other Backward Class (OBC).

In addition to the above, beneficiaries can avail the benefits of this

Note  – Also those who are living in plains will receive a grant of Rs 1.20 lakh, with Rs 1.30 lakh for those living in hilly areas.

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