Budget 2022-2023 prioritizes affordable housing and infrastructure development

Nirmala Sitharaman announced the completion of 80 lakh homes for the designated beneficiaries of the Pradhan Mantri Awas Yojana (PMAY) within both rural and urban sectors while introducing the Union Budget for FY 2022-23.

For fulfil this goal by the end of this fiscal year, a fund allocation of Rs 48,000 crore has been put aside.

Furthermore, the federal and state governments will collaborate to reduce the time it takes to approve land and construction-related projects. It will help the working class and the Economically Backward Segment (EWS) in metropolitan areas find more inexpensive housing.

Seven engines, including roads, railroads, airports, docks, public transportation, waterways and logistics, and facilities, have been recognized within PM GatiShakti, a revolutionary method for affordable and environmental development. Several aspects, like bulk water and sewage, as well as a strong social infrastructure, would supplement these engines. Its emphasis will be on technology-assisted preparation and design implementation.

The goal is to build a world-class contemporary infrastructure which will aid in economic development and growth.

Villages on the northern border would profit through initiatives such as the creation of buildings facilities, apartments, roads, and tourist centers as part of the Vibrant Villages initiative.

The government has been working to modernize the infrastructure of the country, and several operations will be undertaken in FY 2022-23 to achieve this goal.

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