Budget 2024: Govt announces 2 cr houses; 300 units free power via solarisation

Finance Minister Nirmala Sitharaman has announced the launch of over 2 crore more houses under the Pradhan Mantri Gramin Awas Yojana (PMGAY) scheme to help deserving sections of the middle class, which will allow them to buy or build their own houses.

FM Sitharaman says over 2 crore houses will be built under the scheme and it will be applicable to those living in rented houses, slums, chawls or unauthorised colonies.

“Despite challenges of the pandemic, PM Awas Yojana Gramin implementation continued, we are close to achieving the target of 3 crore houses, 2 crore houses more will be taken up in the next 5 years to meet requirement arising from increase in a number of families,” says FM Sitharaman.

Additionally, the FM also announced “300 units of free power” via rooftop solarisation. She says the scheme will allow over 1 crore households to obtain 300 units of free electricity every month.

Notably, just this month, Prime Minister Narendra Modi unveiled the ‘Pradhan Mantri Suryodaya Yojana’, a scheme that seeks to harness solar energy from the sun to generate electricity for over 1 crore households. PM Modi, after the consecration ceremony of the Ram temple, said every Indian household must embrace their own solar rooftop system.

Modi asserted the initiative will not just alleviate the financial burden of electricity bills for the less privileged and middle class but will also propel India towards self-reliance in the energy sector.

Talking about the government’s strategy for “Amrit Kaal”, the FM says the government will adopt economic policies which will foster and sustain growth, facilitate inclusive and sustainable development, improve productivity, create opportunties for all and help them enhance their capabilities and contribute to generation of resources to power investments and fulfill aspirations. “The government will take up next gen reforms and build consensus with stakeholders for effective implementation.”

She says the government is ready to assist states in faster development of aspirational districts and blocks, and that it will pay utmost attention to make eastern region and its people a powerful driver of India's growth.