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Budget 2024: New housing scheme to be introduced for middle class living in rented houses, slums, chawls or unauthorised colonies

The FM said that through rooftop solarisation, one crore households will be enabled to obtain upto 300 units of free electricity every month.

Union Finance Minister Nirmala Sitharaman on Thursday (1st February) presented the 5th and last budget of the Modi government 2.0.

The FM said that there is a need to focus on four major castes namely gareeb, mahilayen, yuva and annadata (poor, women, youth and farmers).

“Their needs, aspirations and welfare are our highest priorities,” she said.

One of the key takeaways of Budget 2024 is the consistency in the extension of housing scheme benefits for the rural population and the middle class.

The FM announced that the Centre is close to achieving a target of giving 3 crore houses under the PM Awas Yojana Gramin.

“Two crore more houses will be taken up in the next 5 years to meet the requirement arising from an increase in the number of families,” she said.

On housing for the middle class, the FM said, “Our government will launch a scheme to help deserving section from the middle class living in rented houses or slums or chawls and unauthorised colonies to buy or build their own houses.”

Additionally, the FM said that through rooftop solarisation, one crore households will be enabled to obtain upto 300 units of free electricity every month.

“This scheme follows the resolve of honourable Prime Minister on the historic day of consecration of Shri Ram Mandir in Ayodhya,” Sitharaman said.

The budget projects savings of up to Rs 15,000 to 18,000 annually for households from free solar electricity and selling the surplus to distribution companies.

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