Daily Current Affairs : 12-August-2024

The Union Cabinet has recently authorized the Pradhan Mantri Awas Yojana-Urban (PMAY-U) 2.0, a key initiative aimed at enhancing the living conditions of the urban poor and middle-class families in India. This updated version of the scheme seeks to offer financial assistance to one crore families over a span of five years. The goal is to help these families build, purchase, or rent affordable homes, ensuring a better quality of life in urban areas.

Target Groups of PMAY-U 2.0

The scheme focuses on providing affordable housing to families who do not have a permanent house. It targets three key income groups:

  • Economically Weaker Sections (EWS): Families with very low income levels.
  • Low-Income Groups (LIG): Families with a slightly higher income but still struggling to afford a home.
  • Middle-Income Groups (MIG): Families who are not in the lowest income categories but still find it difficult to purchase a home in urban areas.

Key Features of PMAY-U 2.0

PMAY-U 2.0 offers several benefits to ensure that urban housing needs are met:

  • Subsidies on Home Loans: The scheme provides subsidies to families from the EWS, LIG, and MIG groups to make home loans more affordable.
  • Support for Rental Housing: In addition to buying or building homes, the scheme also focuses on rental housing. This will help people who cannot yet afford to buy homes but need a decent place to live.
  • Innovative Construction Technologies: The program encourages the use of modern construction techniques to build homes quickly and more efficiently, while maintaining high standards of quality and sustainability.

Important Points:

  • Scheme Approval: The Union Cabinet has approved the Pradhan Mantri Awas Yojana-Urban (PMAY-U) 2.0, targeting one crore families over five years.
  • Target Groups:
    • Economically Weaker Sections (EWS): Families with very low income.
    • Low-Income Groups (LIG): Families with slightly higher income but still struggling to afford a home.
    • Middle-Income Groups (MIG): Families in the middle-income bracket who find it difficult to buy homes in urban areas.
  • Key Features:
    • Subsidies on Home Loans: Financial assistance to make home loans more affordable for EWS, LIG, and MIG families.
    • Support for Rental Housing: Provides solutions for families who cannot afford to buy homes but need decent places to live.
    • Use of Innovative Construction Technologies: Encourages modern construction methods to build homes more efficiently, maintaining high standards of quality and sustainability.
  • Goal: To help urban poor and middle-class families build, buy, or rent affordable housing, improving their quality of life.
  • Impact: Aims to address housing challenges, create affordable living spaces, and promote sustainable urban development over the next five years.

Why In News

The Union Cabinet has approved the Pradhan Mantri Awas Yojana-Urban (PMAY-U) 2.0, a groundbreaking initiative designed to provide financial assistance to one crore urban poor and middle-class families, enabling them to build, purchase, or rent affordable housing over the next five years. This ambitious scheme aims to address the growing urban housing shortage and improve living conditions in cities, particularly for those in economically vulnerable groups.

MCQs about Pradhan Mantri Awas Yojana-Urban 2.0

  1. What is the main objective of the Pradhan Mantri Awas Yojana-Urban (PMAY-U) 2.0?
    A. To promote rural development
    B. To provide financial assistance for urban housing
    C. To reduce urban poverty
    D. To support agricultural development
    Correct Answer: B. To provide financial assistance for urban housing
    Explanation: PMAY-U 2.0 aims to provide financial assistance to one crore urban poor and middle-class families, enabling them to build, purchase, or rent affordable housing. The primary focus is on improving living conditions in urban areas.
  2. Which income groups are targeted under PMAY-U 2.0?
    A. Only low-income groups (LIG)
    B. Economically weaker sections (EWS), low-income groups (LIG), and middle-income groups (MIG)
    C. Only middle-income groups (MIG)
    D. Only economically weaker sections (EWS)
    Correct Answer: B. Economically weaker sections (EWS), low-income groups (LIG), and middle-income groups (MIG)
    Explanation: PMAY-U 2.0 targets three key income groups: EWS (economically weaker sections), LIG (low-income groups), and MIG (middle-income groups), with the aim of making housing more affordable for all these categories.
  3. What additional support does PMAY-U 2.0 provide, aside from home loans?
    A. Financial aid for education
    B. Support for rental housing
    C. Agricultural subsidies
    D. Health insurance
    Correct Answer: B. Support for rental housing
    Explanation: Apart from providing subsidies on home loans, PMAY-U 2.0 also focuses on **rental housing** to help those who cannot afford to buy homes but still need decent accommodation.
  4. How does PMAY-U 2.0 ensure efficient and sustainable housing construction?
    A. By promoting traditional construction methods
    B. By encouraging the use of modern and innovative construction technologies
    C. By limiting construction to government-funded buildings only
    D. By relying solely on local construction practices
    Correct Answer: B. By encouraging the use of modern and innovative construction technologies
    Explanation: PMAY-U 2.0 encourages the use of **modern construction technologies** to build homes more efficiently, ensuring high quality and sustainability, which is essential for meeting urban housing needs quickly.

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