Government may reduce income cap for PMAY homes in urban areas 

In the next phase of PM Awas Yojna  (PMAY) in urban areas, government is looking to slab the income threshold foe middle-income group beneficiaries from rs 18 lakh to 10 lakh to traget it better, while also spreading the disburement of the subsidy over five years , instead of one shot payments, to ensure better monitoring. Although officials are tight-lipped about the interest subsidy for MIG beneficiaries, sources said it may be around Rs 2.6 lakh as was provided in the last phase of the scheme. Financial allocation for the scheme is likely to be part of the budget to be presented on Tuesday. In the first leg, govt had put the MIG under two categories - those having an annual income of Rs 6 lakh to Rs 12 lakh and households with annual income of Rs 12 lakh to Rs 18 lakh. Now there may only be one MIG category. The scheme has been redesigned keeping in mind the PM's announcement from the Red Fort last year - to give relief in bank loan interest by providing a help of "lakhs of rupees" to families living in rented houses, unauthorised colonies and shanties in cities, to build their own house, officials told TOI. They added several new provisions have been made based on the learnings from the earlier scheme, seeking to eliminate the scope to beat the system.

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