Full formGovernment & Exams
PMAYstands forPradhan Mantri Awas Yojana
Full Form of PMAY
What is PMAY?
Pradhan Mantri Awas Yojana (PMAY) is a flagship housing scheme launched by the Government of India in June 2015 with the mission of providing 'Housing for All' by the year 2022, since extended to 2024. It aims to address the urban and rural housing shortage by promoting affordable housing for the Economically Weaker Sections (EWS), Low Income Groups (LIG), and Middle Income Groups (MIG). The scheme has two verticals: PMAY-Urban under the Ministry of Housing and Urban Affairs, and PMAY-Gramin under the Ministry of Rural Development. In urban areas, it offers Credit Linked Subsidy Scheme (CLSS) on home loans, in-situ slum redevelopment, and assistance for house construction or enhancement. Rural component provides financial assistance for new pucca houses. It empowers women by mandating female ownership or co-ownership of the house. In India, PMAY is widely discussed in the context of financial inclusion and infrastructure development. For competitive exams like UPSC, SSC, and banking, knowledge of PMAY targets, beneficiaries, and implementing ministries is vital for current affairs sections.
PMAY का फुल फॉर्म
प्रधानमंत्री आवास योजना
Example
The PMAY scheme has enabled my family to afford a two-bedroom house with subsidised home loan interest.
PMAY — frequently asked questions
What is the full form of PMAY?
PMAY stands for Pradhan Mantri Awas Yojana, the Indian government's housing scheme.
What is the difference between PMAY-Urban and PMAY-Gramin?
PMAY-Urban targets urban areas and is implemented by the Ministry of Housing and Urban Affairs, while PMAY-Gramin focuses on rural housing under the Ministry of Rural Development.
Who is eligible for PMAY scheme benefits?
Economically Weaker Sections (EWS), Low Income Groups (LIG), and Middle Income Groups (MIG) with annual household incomes up to Rs. 18 lakhs are eligible, provided they do not own a pucca house.