Budget 2024: Govt to launch housing scheme for deserving middle class, says FM Sitharaman

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The government will launch a housing scheme for deserving middle class to buy or build their own houses, Finance Minister Nirmala Sitharaman said on Thursday.

Nirmala Sitharaman in her Budget 2024 speech said the government will also adopt an economic approach that facilitates sustainable development and improves productivity.

She also mentioned about rooftop solarisation to ensure one crore household free electricity of up to 300 units per month, leading to household savings of Rs 15,000-18,000 annually.

The finance minister said the government will set up more medical colleges, utilising existing hospital infrastructure.

Besides, utmost attention will be paid to the development of the eastern region and its people.

Meanwhile, Finance Minister Nirmala Sitharaman said that the country is close to achieving the target of 3 crore houses under the rural housing scheme and two crore more will be constructed in the next five years.

Earlier this month, Prime Minister Narendra Modi released the first instalment of Rs 540 crore to one lakh beneficiaries of a rural housing scheme under the Pradhan Mantri Janjati Adivasi Nyaya Maha Abhiyan (PM-JANMAN) via video conferencing.

She said to meet investment needs, the government will prepare the financial sector in terms of size, capacity, skills, and regulatory framework.

The government will facilitate high and more resource-efficient economic growth to ensure energy security for the country, said Sitharaman in her Budget 2024 speech.

She said that India as a G20 summit host has showed the way forward and built a consensus for solutions for problems being faced by the world.

India organised the G20 summit in Delhi at Bharat Mandapam last year.

Earlier, the Union Cabinet chaired by Prime Minister Narendra Modi approved the interim Budget 2024.

PM Modi chaired the cabinet meeting ahead of the Interim Budget presentation in Parliament.

This is the sixth Budget presented by the Finance Minister and last in the second term of the Modi government. The interim budget will take care of the financial needs of the intervening period until a government is formed after the Lok Sabha polls.

A full budget will be presented by the new government.

The Budget Session of Parliament commenced on Wednesday with President Droupadi Murmu addressing a joint sitting of Lok Sabha and Rajya Sabha.

(With inputs from PTI)