Govt. to launch housing scheme for middle class.

• The government would launch a scheme to help “deserving sections of the middle class living in rented houses or slums or chawls and unauthorised colonies” buy or build houses.

Pradhan Mantri Awas Yojana (PMAY)

• The PMAY is a credit linked subsidy scheme to facilitate access to affordable housing for low and moderate income groups.
• It has two components
  • PMAY (Urban) for the urban poor under the Ministry of Housing and Urban Affairs
  • PMAY (Rural) for rural India under the Ministry of Rural Development.
    • Over 2 crore houses have been constructed under the scheme since its launch in 2016.
    • Construction of two crore more houses will be taken up in the next five years.