Page 676 - ES 2020-21_Volume-1-2 [28-01-21]

Industry and Infrastructure 303

be credited to the bank accounts of beneficiaries through Direct Benefit Transfer on quarterly
basis. The Scheme was launched on June 01, 2020 and started its operations from July 2, 2020.
As on November 9, 2020, of the 26.48 lakh loan applications received, over 13.70 lakh were
sanctioned and over 6.70 lakh were disbursed. Work is on to prepare a socio-economic profile
of the street vendors and their families and assess their potential eligibility for various central
welfare schemes, to further facilitate the linkages to these schemes.

8.73 Pradhan Mantri Awas Yojan-Urban (PMAY-U) has been rapidly moving towards
achieving the vision for providing a pucca house to every household by 2022. It has so far
approved more than 109 lakh houses of which over 70 lakh houses have been grounded for
construction. More than 41 lakh houses have been completed and delivered. The GoI has made
additional outlay of ` 18,000 crore for the year FY21 through budgetary allocation and extra
budgetary resources for the scheme under Atmanirbhar Bharat 3.0. Further, a sub scheme
Affordable Rental Housing Complexes (ARHCs) under PMAY-U has been initiated to address
the needs of the migrant workers for decent rental housing at affordable rate near their work
places.

8.74 To provide impetus to innovative technology for housing construction, the Hon’ble Prime
Minister laid foundation stones of Light House Projects (LHPs) on 1st January, 2021. The
six LHPs for construction of 6,368 houses involving project cost of ` 790.57 crores are being
implemented at six places – Lucknow, Indore, Rajkot, Chennai, Ranchi and Agartala using
innovative technologies identified through Global Housing Technology Challenge– India. These
LHPs will act as live laboratories for all stakeholders leading to mainstreaming of these global
technologies in Indian context.

WAY FORWARD

8.75 The COVID-19 led economic crisis adversely affected the global and domestic economy.
The economic activities across the sectors were suddenly suspended that forced billions of
people to restrict their movement. The crisis management strategy had to encompass all the
stakeholders, especially the weaker and the vulnerable sections. The nature and scale of the
unprecedented shock triggered several interventions from the Government –short term as well
as those aimed at ushering in structural reforms through the Atmanirbhar Bharat package. A
rapid recovery of the industrial sector following a sudden fall in the high frequency growth
indicators could only be witnessed because of timely, meaningful, and appropriate policy
measures.

8.76 The year after the crisis (FY22) will require sustained and calibrated measures to facilitate
the process of economic recovery and to enable the economy to get back to its long-term growth
trajectory. The revival of the industrial and infrastructure sector will be key to overall economic
growth and macroeconomic stability.

8.77 The FY21 can be summarized in the lines of Saint Francis of Assisi “Start by doing what’s
necessary, then do what’s possible, and suddenly you are doing the impossible” because as
Albert Einstein said, “In the midst of every crisis, lies great opportunity.”