Interim Budget 2024: FM Sitharaman announces housing scheme for middle class
Budget 2024 announcements: While the housing scheme was announced, the finance minister added that there has been no changes made to the direct and indirect taxation – something the middle class was keen on.
- Feb 1, 2024,
- Updated Feb 1, 2024 12:36 PM IST
Budget 2024: Finance Minister Nirmala Sitharaman, during her Interim Budget 2024 speech on Thursday, announced a housing scheme for the middle class. The scheme was envisaged to enable the middle class to build or buy a house of their own.
“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 said in her speech.
While the housing scheme was announced, the finance minister added that there has been no changes made to the direct and indirect taxation – something the middle class was keen on. Nevertheless, this is only an interim budget and the full budget would be presented in July, which is after the 2024 general elections.
FM Sitharaman also spoke of the PM Awas Yojana and said 2 crore houses will be taken up in the next five years. “Despite the challenges due to COVID, implementation of PM Awas Yojana (Grameen) continued and we are close to achieving the target of three crore houses. 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,” she said.
The minister also announced rooftop solarisation and free electricity. “Through rooftop solarization, 1 crore households will be enabled to obtain up to 300 units free electricity every month. This scheme follows the resolve of the Prime Minister on the historic day of consecration of Ram Mandir in Ayodhya,” she stated along with its benefits.
She said that through rooftop solarisation and free electricity, households would be able to save up to Rs 15,000-18,000 annually, charge electric vehicles, employment would be generated for vendors for supply and installation, and employment opportunities for the youth with technical skills in manufacturing, installation and maintenance.
Also read: Budget 2024 LIVE Updates: No change in taxation but here is what Sitharaman said
Also read: Interim Budget 2024 Live: 'No change in taxation', says FM Sitharaman
Budget 2024: Finance Minister Nirmala Sitharaman, during her Interim Budget 2024 speech on Thursday, announced a housing scheme for the middle class. The scheme was envisaged to enable the middle class to build or buy a house of their own.
“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 said in her speech.
While the housing scheme was announced, the finance minister added that there has been no changes made to the direct and indirect taxation – something the middle class was keen on. Nevertheless, this is only an interim budget and the full budget would be presented in July, which is after the 2024 general elections.
FM Sitharaman also spoke of the PM Awas Yojana and said 2 crore houses will be taken up in the next five years. “Despite the challenges due to COVID, implementation of PM Awas Yojana (Grameen) continued and we are close to achieving the target of three crore houses. 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,” she said.
The minister also announced rooftop solarisation and free electricity. “Through rooftop solarization, 1 crore households will be enabled to obtain up to 300 units free electricity every month. This scheme follows the resolve of the Prime Minister on the historic day of consecration of Ram Mandir in Ayodhya,” she stated along with its benefits.
She said that through rooftop solarisation and free electricity, households would be able to save up to Rs 15,000-18,000 annually, charge electric vehicles, employment would be generated for vendors for supply and installation, and employment opportunities for the youth with technical skills in manufacturing, installation and maintenance.
Also read: Budget 2024 LIVE Updates: No change in taxation but here is what Sitharaman said
Also read: Interim Budget 2024 Live: 'No change in taxation', says FM Sitharaman