Sixteen-fold rise in urban sector investments since 2014, says Manohar Lal Khattar

Union Minister Manohar Lal Khattar highlights significant urban sector investments and progress towards 'Viksit Bharat' vision by 2047.

Union Minister Manohar Lal Khattar on Tuesday (December 10, 2024) said there has been a substantial increase in investments in the urban sector since 2014 and emphasised the Centre’s dedication to realising the vision of ‘Viksit Bharat’ by 2047.

Addressing a press conference on achievements of his Ministry, the Union Housing and Urban Affairs Minister said investments have increased 16-fold, rising from approximately ₹1,78,053 crore between 2004 and 2014 to ₹28,52,527 crore since 2014.

“Urban development schemes have been expanded and implemented with greater speed and efficiency in the past six months, asserting that the rapid pace of urbanisation has made urban development a key pillar of India’s growth strategy,” he said.

The Minister said that under the Jawaharlal Nehru National Urban Renewal Mission (JNNURM) between 2004 and 2014, projects worth ₹66,837 crore were sanctioned, but the Modi government has sanctioned projects worth ₹2.73 lakh crore under the Atal Mission for Rejuvenation and Urban Transformation (AMRUT) since 2014.

Talking about urban housing and PMAY 2.0, Mr. Khattar said a new rental housing vertical has been introduced under the second phase of the Pradhan Mantri Awas Yojana (Urban), benefiting the migrant population.

Under this scheme, new initiatives such as provisional sanctions for around 7% of the planned one crore urban houses based on the population of States signing MoUs, have been made and it will ensure timely allocation and expediting the process.

“To streamline operations, sanctions to States will be finalised based on the demand received by March 31, 2025, providing clarity on yearly house allocations,” he said, adding that 88.32 lakh houses have competed under the PMAY 2.0.