In its inaugural meeting on Monday, the Union Cabinet of Prime Minister Narendra Modi's third term approved the construction of three crore houses under the Pradhan Mantri Awas Yojana (PMAY) across rural and urban areas.

Over the past decade, the Modi administration has successfully constructed 4.21 crore houses through this flagship housing initiative. The PMAY scheme provides financial aid and incentives to eligible beneficiaries for constructing, purchasing, or renovating their homes.

The Pradhan Mantri Awas Yojana aims to ensure affordable housing for all and is divided into two segments: Pradhan Mantri Awas Yojana (Urban) and Pradhan Mantri Awas Yojana (Gramin).

The urban component focuses on urban poor households, while the rural component aims to provide pucca houses with essential amenities to rural households currently living in kutcha houses.