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Union Finance Minister Nirmala Sitharaman on Tuesday said that 80 lakh houses will be completed for identified beneficiaries of PM Awas Yojana in the next financial year.

Presenting the Union Budget for 2022-23, Sitharaman said, “In 2022-23, eighty lakh houses will be completed for identified eligible beneficiaries of PM Awas Yojana in both rural and urban areas. Rs 48,000 crore is allocated for this purpose.”

The Finance Minister further stated that the central government will work with state government for reduction of time required for all land and construction related approvals for promoting affordable housing for middle class and economically weaker sections in urban areas.

“We shall also work with financial sector, regulators to expand the access to capital along with reduction in cost of intermediaries,” she said.

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