What is Pradhan Mantri Awas Yojana and how it is going to change the face of the nation?
If you notice, even with such a big nation like India, in the last 60-70 years not everyone has a house of their own. We’ve also been noticing from the past few years that every person wants to have his/her own house. However, it’s only after they spend time between the ages of 25-40 working a job or a business that they manage to think about buying their own house.
Today, the statistics of the country show that about 40-45% population of our country is earning a monthly income of about ₹10,000 – 25,000. So someone with a gain of 10,000 – 25,000 cannot even think about buying their own house and those who have a higher income even if they buy a house, it takes them 20-25 years to make their house, so they cannot actually enjoy living in their property in their prime years.
So how do we solve that? How do we make sure that every citizen in the country has their own property? Considering that vision, our esteemed prime minister – I always say he has a really good vision, made a unique plan. The statistics of our country say that the requirement of a house is 96% for LIG & EWS which means smaller affordable housing. But in our country, whether it was a government agency or private builders, they would try to earn super-normal profits, and to do that they kept making such properties suitable for the super-rich, who could buy them for their investments. The person who had 1 house s/he bought 2 more, 3 more, and then sold them at a higher price. This way the person continued doing his/her business but the common man who earned about Rs 25,000 – 40,000 was left out and just kept wondering if they’d ever be able to afford a house of their own or not. So to fulfill that, this Yojna was made which made affordable housing possible.
So the government announced that by 2022, they aim at making about 3 crore properties in the countryside (Gramin Shetra) and 2 crore houses in the cities. They wanted to make a total of 5 crore houses due to which every person, every household i.e., a person and his/her family should at least have a house of their own. That is why this Yojna was brought into action.
About the Author
Sunil Kumar Gupta is an entrepreneur par excellence, philanthropist, and a great visionary. He is the Leader of Indo European Business Forum (IEBF) and also the Founder Chairman of SARC & Associates, Chartered Accountants, and SARC Foundation, and Life Trustee of Rashtriya Antyodaya Sangh, a Public Charitable Trust. He has over 32 years of experience in diverse fields such as Corporate planning, Financing, Taxation, Banking, Education, Investments, Oil & Gas, and project implementations. He is a Fellow Member of the Institute of Chartered Accountants of India (ICAI), a Life Member of the Indian Council of Arbitration, and a Full Member of the Institute of Certified Public Accountants of Uganda (CPA-U).
Due to his business acumen, and analytical & policy-making skills, Mr. Gupta has been a part of several international delegations. He accompanied the Former Hon’ble President of India Mrs. Pratibha Devi Singh Patil in the business delegation to Seychelles and South Africa, to discuss bilateral issues between the two nations. He was also a part of the 21-member delegation from the Institute of Chartered Accountants of India to Vienna, Austria in 2011.
Mr. Gupta is associated with various Government Authorities, as a Consultant for Income Tax and GST matters, like Northern Railways (NR), Delhi Development Authority, DGH (Ministry of Petroleum and Natural Gas, Govt. of India), New Okhla Industrial Development Authority (NOIDA), Greater Noida Industrial Development Authority (GNIDA), Yamuna Expressway Industrial Development Authority (YEIDA).