Interim Budget: Housing scheme for 'deserving' middle class soon, says FM

FM Nirmala Sitharaman also said that India is close to achieving the target of 30 million houses under the rural housing scheme

Interim Budget 2024: The Centre will launch a housing scheme for the "deserving" middle class, Finance Minister Nirmala Sitharaman said in her Budget speech on Thursday.

She said, "Our government will launch a scheme to help deserving sections of the middle class 'living in rented houses or slums or chawls and unauthorised colonies' to buy or build their own houses."

She also said that India is close to achieving the target of 30 million houses under the rural housing scheme, and 20 million more will be constructed in the next five years.

Earlier this month, Prime Minister Narendra Modi released the first instalment of Rs 540 crore to 100,000 beneficiaries of a rural housing scheme under the Pradhan Mantri Janjati Adivasi Nyaya Maha Abhiyan (PM-JANMAN) via video conferencing.

Also Read: Click here for all updates on Union Budget 2024

Sitharaman, in her pre-election Budget, which is technically a vote on account and popularly termed an interim Budget, said the Centre will also adopt an economic approach that facilitates sustainable development and improves productivity.

She also mentioned rooftop solarisation to ensure 10 million household-free electricity of up to 300 units per month, leading to household savings of Rs 15,000-18,000 annually.

She said to meet investment needs, the government will prepare the financial sector in terms of size, capacity, skills, and regulatory framework. The Centre will facilitate high and more resource-efficient economic growth to ensure energy security for the country.

She added that India, as a G20 host, has shown the way forward and built a consensus for solutions to problems being faced by the world. India organised the G20 summit in New Delhi at Bharat Mandapam last year.

(With agency inputs)