Answer:


The Union Cabinet has approved the continuation of the Pradhan Mantri Awas Yojana-Urban (PMAY-U), also known as the Housing for All Mission, up to 31st December 2024.


The Pradhan Mantri Awas Yojana-Urban (PMAY-U) was launched by the Government of India in June 2015 with the objective of providing affordable housing to the urban poor. The mission aims to ensure that every eligible urban household has a pucca house with basic amenities by the year 2022.


The PMAY-U scheme has several key features, including:
- Beneficiaries: The scheme targets individuals from economically weaker sections (EWS), low-income groups (LIG), and middle-income groups (MIG) of the society.
- Subsidies: The government provides interest subsidies on home loans for eligible beneficiaries, which reduces the cost of borrowing and makes housing more affordable.
- Affordable Housing: The scheme focuses on the construction of affordable houses using environmentally sustainable and earthquake-resistant technologies.
- Inclusive Development: The scheme aims to promote inclusive development by ensuring the participation of women in the ownership of houses.
- Credit-Linked Subsidy Scheme (CLSS): The CLSS component of PMAY-U provides interest subsidies on home loans taken by eligible beneficiaries, making it easier for them to purchase or construct a house.


The Union Cabinet has approved the continuation of the Pradhan Mantri Awas Yojana-Urban (PMAY-U) up to 31st December 2024. This decision was taken to ensure the completion of the mission's objectives and provide affordable housing to all eligible urban households.


The extension of PMAY-U until 31st December 2024 is significant for the following reasons:
- Ensuring Completion: The extension will allow the government to complete the construction of remaining houses and achieve the overall goal of housing for all by 2022.
- Continued Support: The continuation of the scheme will provide continued support to eligible beneficiaries in terms of affordable housing and interest subsidies on home loans.
- Addressing Housing Shortage: The extension will help address the housing shortage in urban areas and provide better living conditions for the urban poor.
- Economic Growth: The construction of houses under PMAY-U will contribute to the growth of the construction sector and generate employment opportunities, thereby boosting the economy.

In conclusion, the Union Cabinet's approval for the continuation of the Pradhan Mantri Awas Yojana-Urban (PMAY-U) until 31st December 2024 is a significant step towards achieving the goal of housing for all. The scheme's continuation will ensure the completion of remaining houses and provide affordable housing options to eligible urban households.