Budget 2022: Government Allocates Rs 48000 Crore For Construction of 80 Lakh Houses Under PMAY

Union Budget 2022: On February 1, 2022, Finance Minister Nirmala Sitharaman presented the budget. She stated that the allocation of whopping Rs 48,000 crore will be for the construction of 80 lakh houses under the Pradhan Mantri Awas Yojana (PMAY), both rural and urban, in the coming fiscal year. 

The minister added in her budget speech: "In 2022-23, 80 lakh houses would be built for the PM Awas Yojana's identified eligible recipients, both rural and urban. A total of Rs 48,000 crore has been set aside for this purpose.

For Better Land Records, States Will Be Encouraged To Adopt Unique Land Parcel Identification Number

"She stated that the Centre would collaborate with states to reduce the time required for all land and construction-related clearances, as well as to promote affordable housing for middle-class and economically disadvantaged people in urban areas. "We will also engage with financial sector regulators to increase access to capital while lowering intermediation costs," the minister stated.

Sitharaman stated that states will be urged to use the Unique Land Parcel Identification Number to assist IT-based record administration for better land records management.

One Nation One Registration Software To Promote As An Option For Uniform Process of Registration

She added, "The ability to transliterate land records into any of the Schedule VIII languages will be rolled out as well." The use of the 'One-Nation One-Registration Software' in conjunction with the National Generic Document Registration System (NGDRS) will be advocated as an alternative for a consistent process for registration and 'anywhere registration' of deeds and documents. 

Economy Survey Highlights 33.99 Lakh Houses Were Completed In 2020-21 

According to the Economy Survey, which was released on January 31, 2022 Monday, the Pradhan Mantri Awas Yojana - Gramin (PMAY-G) program completed 33.99 lakh houses in 2020-21 and 26.20 lakh units as of November 25, 2021. According to the report, 14.56 lakh residences were completed under the Pradhan Mantri Awas Yojana - Urban (PMAY-U) in FY21. 4.49 lakh houses were completed in 2021-22 until December 2021.