The "Pradhan Mantri Awas Yojana - Urban (PMAY-U)" aims to address the housing shortage in urban areas. Which of the following approaches is a key component of this scheme to achieve its objectives?
Show answer & explanation
Correct answer: B
Explanation
The correct answer is option 2 i.e. Providing financial assistance to beneficiaries for the construction, purchase, or enhancement of affordable housing.
The Pradhan Mantri Awas Yojana - Urban (PMAY-U), launched by the Ministry of Housing and Urban Affairs, focuses on providing "Housing for All." A key component is providing financial assistance through four verticals: In-situ Slum Redevelopment, Credit Linked Subsidy Scheme (CLSS), Affordable Housing in Partnership, and Beneficiary-led Construction. It targets the EWS, LIG, and MIG categories, ensuring that eligible urban residents receive subsidies to either build new homes or improve their existing dwellings.