PMAY-G aims at providing a pucca house, with basic amenities, to all households and those households living in kutcha and dilapidated house, by 2022. Ministry of Rural Development (MoRD), Government of India (GoI) is the nodal Ministry for PMAY-G and the scheme is being implemented by the State Govts./UT. The scheme envisages construction of 2.95 crore houses; 1 crore houses under Phase I (2016-17 to 2018-19) and 1.95 crore under Phase II (2019-20 to 2021-22)
NABARD has been extending loan to National Rural Infrastructure Development Agency (NRIDA), a Special Purpose Vehicle (SPV) of GoI, towards part funding of Central share under the Scheme since 2017-18. Loans towards funding under PMAY-G are extended through Extra Budgetary Resources (EBRs) in the form of Government of India backed fully serviced bonds. As on 31 March 2021, the total sanction and release by NABARD stood at ` 61,975 crore and ` 48,819.03 crore respectively.
As reported by MoRD, GoI, as against the target of 2.95 crore houses to be built in rural areas under PMAY-G, construction of 1.30 crore houses is completed as on 27 February 2021.