How is the Pradhan Mantri Awas Yojana Scheme futuristic and beneficial

How is the Pradhan Mantri Awas Yojana Scheme futuristic and beneficial?


The dream of owning a home, whether big or small, is common amongst the people of all classes irrespective of them being rich or poor. While it is usually not that difficult for the rich to afford their housing dream, the poor people find it way too difficult. To help such people, the Government launched the PMAY subsidy scheme that is the Pradhan Mantri Awas Yojana. Buying a home not only is a mark of social security but also, allows people to make an investment for their children and future generations in the form of a fixed asset. The PMAY subsidy was launched with an objective to provide housing to all in no time.Also, the PMAY Application status gives us a lot of detials. Here are some amongst various features of the Pradhan Mantri Awas Yojana scheme that make it beneficial move for the country and its people:

Read more: Things to consider before opting for a personal loan

PMAY aims to provide pucca house to all: The main objective of the Pradhan Mantri Awas Yojana is to provide housing for the income-based underprivileged section of the society. Thereby, providing affordable housing to these income groups lie the EWS or the economically weaker sections, and the LIG or the lower income group would eradicate the slum habitation in the country.

Benefits to the underprivileged: As mentioned above the PMAY subsidy aims to provide affordable housing to all. Thus the scheme focuses on the sections of the society, that are otherwise unable to borrow a home loan. Therefore, it focuses on the section who earn an annual income of less than Rs 18 lakhs per annum. These include the LIG or the lower-income group, the EWS or the economically weaker sections, MIG-1 or the middle-income group-1 and MIG -2 or the Middle Income group-2.

Subsidized interest rates: The Pradhan Mantri Awas Yojana mainly heps the EWS, LIG, MIG-1 and MIG-2 home loan applicants to avail home loans at subsidized interest rates. While the LIG and the EWS can avail a home loan subsidy of 6.5%, the MIG-1 and MIG-2 category applicants can avail a subsidy of 4% and 3% respectively on home loan interest rates.

Prioritizes the interest of women: Another benefit that PMAY offers is that it adds up to empowering the women of the country by encouraging them to apply for loans and buy a home. As per the eligibility criteria of the scheme, if a person applies for a loan form the EWS or the LIG category, then it compulsory for them to bring in women co-applicants. Thus, this helps women belonging to the EWS and LIG category rise in the social ladder, who are otherwise doubly marginalized due to gender and status.

Promotes the eco-friendly culture: Undoubtedly, the construction of buildings does a lot of harm to the natural surroundings and resources. The PMAY subsidy, however, promotes the eco-friendly construction of houses, by setting this as one of its eligibility parameters. As per the PMAY scheme, only eco-friendly technologies and materials are used for the construction of houses under PMAY.

The above-mentioned points make it clear that the Pardhan Mantri Awas Yoajan is laying a foundation for a strong economy, that will function on the threshold of being ‘eco-friendly’ without being comprising on the development and quality of infrastructure. Thus, the PMAY subway is definitely a futuristic, sustainable and beneficial scheme. 


The Pradhan Mantri Awas Yojana is one amongst the various initiatives taken by the Government of India to boost the infrastructural development of the country. The scheme works on the idea that the development can take place only when the poor people are able to participate in the infrastructural developments. The scheme is distinctive in nature and is futuristic and beneficial due to the following reasons:

  • The scheme function well to provide a pucca house to all sections of the society, including the people who earn less and live in slums. The ability to buy pucca houses will reduce the slum habitation in the country.
  • The PMAY subsidy provides benefits to the economically backward class who earn less than Rs 18 lakhs per annum. These include the EWS(Economically weaker sections), LIG(Lower-income group), MIG-1 (Middle-income group-1) and MIG-2 (Middle Income group-2)
  • The PMAY subsidy scheme allows the above-mentioned income groups to avail home loans at subsidized interest rates. The EWS and LIG can avail home loan at interest subsidies of 6.50%, while the MIG-1 and MIG-2 category home loan applicants can avail home loans at a subsidy of 4% and 3%.
  • The scheme puts forth the empowerment of the women in the society, as it is compulsory for the EWS and the LIG category loan applicants to apply for a home loan jointly, with female co-applicants.
  • As per the PMAY subsidy, the construction of the houses with the PMAY must take places in accordance with the eco-friendly measures, that is, by using eco-friendly materials and technologies.

Thus these features justify the PMAY subsidy as a futuristic and a beneficial scheme.

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