The government plans to launch a scheme in September that will provide relief in interest on bank loans for individuals looking to own houses in cities. Prime Minister Narendra Modi announced the scheme during his Independence Day speech, stating that it aims to help middle-class families living in rented houses, unauthorized colonies, and shanties to build their own homes.
Prime Minister Narendra Modi said the Indian government will soon launch a scheme to provide relief in interest of bank loans to those dreaming of their own house in cities. The prime minister launched the PMAY-U on June 25, 2015, to provide pucca houses with basic amenities to all eligible urban beneficiaries across the country.
Pradhan Mantri Awas Yojana: The prime minister said that poor people living in cities without a house face difficulties. "Middle-class families are dreaming of their own house in cities. We will soon launch a scheme for them." said PM.
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