Government To Launch Housing Scheme For Deserving Sections "Living In Rented Houses, Or Slums, Or Chawls And Unauthorized Colonies" To Help To Buy Or Build Their Own Houses ; Five Integrated Aquaparks To Be Setup
FinTech BizNews Service
Mumbai, February 1, 2024: Union FM Nirmala Sitharaman has announced that the Government will launch a scheme to help deserving sections of the middle class “living in rented houses, or slums, or chawls and unauthorized colonies” to buy or build their own houses
Highlighting the achievement of PM Awas Yojana (Grameen), Union Finance Minister said that despite the challenges due to COVID, implementation of the scheme continued and the government is close to achieving the target of three crore houses. She said that two crore more houses will be taken up in the next five years to meet the requirement arising from increase in the number of families. Under PM AWAS yojana (grameen) government is close to achieving the target of 3 crore houses.
In a bid to boost Fisheries sector, Nirmala Sitharaman has said that five integrated aquaparks will be setup. While presenting the Interim Budget 2024-25 in Parliament today, the Minister said, “It was our Government which set up a separate Department for Fisheries realizing the importance of assisting fishermen. This has resulted in doubling of both inland and aquaculture production.” The Minister highlighted that Seafood export since 2013-14 has also doubled.
The Minister announced that the implementation of Pradhan Mantri Matsya Sampada Yojana (PMMSY) will be stepped up to: (i) enhance aquaculture productivity from existing 3 to
5 tons per hectare; (ii) double exports to Rs 1 lakh crore; (iii) generate 55 lakh employment opportunities in the near future.
Blue Economy 2.0
The Minister announced that for promoting climate resilient activities for blue economy 2.0, a scheme for restoration and adaptation measures, and coastal aquaculture and mariculture with integrated and multi-sectoral approach will be launched.
Dairy Development
The Minister also announced that a comprehensive programme for supporting dairy farmers will be formulated. She stated that efforts are already on to control foot and mouth disease. Smt. Sitharaman said, “India is the world’s largest milk producer but with low productivity of milch-animals.” The programme will be built on the success of existing schemes such as Rashtriya Gokul Mission, National Livestock Mission, and Infrastructure Development Funds for dairy processing and animal husbandry, she added.
Girish Kousgi, MD & CEO, PNB Housing Finance: “We commend the Finance Minister for presenting a forward-looking budget that reflects a prudent fiscal policy. The renewed focus on collective progress, encapsulated in the philosophy of— Sabka Saath, Sabka Vikas aligns seamlessly with the 'Housing for All' mission. The thrust on transitioning individuals from rented to owned homes is an excellent and a much-needed initiative. It resonates with PNB Housing's continuous efforts to make affordable housing accessible to every segment of society.”
“Simultaneously, the government's vision to build additional two crore housing units under the PMAY (Grameen) is in sync with our own vision of enabling home ownership for individuals in the country. We are equally optimistic that the increased thrust on inclusive growth and affordable housing will boost rural demand and contribute significantly to the growth of the housing finance sector.”
Sanjeev Krishan, Chairperson, PwC in India: This year’s Union Budget strikes a delicate balance between laying the groundwork for India’s bright future (Amrit Kaal) and emphasising responsible action (Kartavya Kaal). The significant increase in capital expenditure underscores the government’s unwavering commitment to addressing India’s core economic needs and boosting economic growth. Finance Minister Nirmala Sitharaman’s continued focus on infrastructure development, coupled with her emphasis on inclusivity, carries far-reaching potential. This twin-pronged approach promises to propel India’s economic trajectory while ensuring equitable participation and social progress. The budget lays the foundation for a sustainable future, with inclusivity and innovation at its core.
