Modi 3.0 Cabinet To Hold First Meeting, Set To Approve Additional Housing Under PMAY-G

The newly formed Modi 3.0 Cabinet will convene its first meeting at the Prime Minister's residence at 7, Lok Kalyan Marg. Scheduled for 5 pm, the meeting is expected to approve the construction of two crore additional houses under the Pradhan Mantri Awaas Yojana-Gramin (PMAY-G), according to government sources.

Additionally, the Union Cabinet is anticipated to increase the assistance provided to PMAY-G beneficiaries by nearly 50%, the sources added.

The cabinet is also expected to request President Droupadi Murmu to convene a Parliament session soon and address the joint sitting of both Houses, according to the sources.

On Sunday, Narendra Modi was sworn in as Prime Minister of India for a record third term, with 72 ministers joining him at Rashtrapati Bhavan. Following the swearing-in, JP Nadda, a new member of Team Modi, hosted a dinner for the Council of Ministers.

Before the ceremony, Modi addressed the newly inducted ministers during a tea meeting at his residence, emphasizing the importance of the '100-day programme'.

Union Minister Nirmala Sitharaman had mentioned the goal of affordable housing for all citizens in her Interim budget in February, highlighting the plan to build two crore additional houses under PMAY-G in the next five years to meet rising demand.

In his Independence Day speech last year, PM Modi assured that poor and middle-class citizens living in slums, chawls, unauthorized colonies, and rented houses would soon be able to avail home loans from banks with reduced lending rates, noting that this initiative is in progress.