HomeLatestKochi Civic Body Fails to Disburse PMAY and Life Mission Funds, Delays...

Kochi Civic Body Fails to Disburse PMAY and Life Mission Funds, Delays Housing Projects

The Kochi Municipal Corporation has come under fire for its failure to disburse crucial funds for the Pradhan Mantri Awas Yojana (PMAY) and Life Mission housing schemes, leaving 80 beneficiaries awaiting financial support. Despite having a substantial balance of ₹28 crore in its dedicated bank account for these schemes, the corporation has not released the necessary funds, delaying the completion of housing projects for families in need.

M G Aristotle, Secretary of the UDF Parliamentary Party in the corporation, expressed frustration over the situation: “We have learned that around 80 beneficiaries are still waiting for the release of funds. Despite the bank account having around ₹28 crore, the corporation has failed to disburse the funds, causing unnecessary delays in housing construction.”

Beneficiaries who have received partial payments are struggling to complete their homes. For example, Sudheesh T S from Palluruthy shared his experience, saying, “We received only ₹80,000 out of the ₹1.6 lakh that was due to us. They cite a shortage of funds, but we are struggling to complete the construction.” The corporation has pointed to delays in receiving the Union government’s share of funds as a key factor contributing to the issue. According to Mayor M Anilkumar, the corporation often has to rely on its own funds due to the delay in central disbursements. “We are asked to use our own funds temporarily, which will later be adjusted when the Union government’s share is received. This long delay in getting the central share hampers the implementation of the scheme,” said the mayor. However, local officials are reluctant to divert funds from other projects to meet the urgent housing needs. “If we divert funds from other earmarked projects for PMAY/Life Mission, we may be held accountable if those projects face delays,” said a senior official within the corporation. This ongoing delay has left many families in a difficult position, as they await the promised financial support to build homes under these vital housing schemes.

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -spot_img

Most Popular

Recent Comments

India Private Credit Funds Expand Real Estate Development Financing

India Private Credit Funds Expand Real Estate Development Financing

The growing role of private credit in real estate is reshaping how property developers finance residential, commercial and mixed-use projects across India, reflecting a...
India Smaller Cities Eye GCC Driven Housing Demand

India Smaller Cities Eye GCC Driven Housing Demand

India's Tier II GCC growth story is entering a new phase as smaller cities position themselves to attract Global Capability Centres (GCCs), signalling a...
India Cement Sector Faces Cost Pressures

India Cement Sector Faces Cost Pressures

India’s cement industry is expected to report stronger dispatches for the opening quarter of FY27 as infrastructure activity and housing construction sustained demand across...
India Refined Copper Needs Challenge Industrial Growth

India Refined Copper Needs Challenge Industrial Growth

India will require an additional Refined Copper production capacity of around 500,000 tonnes every five years to keep pace with rising industrial demand,according to...
Vedanta Aluminium Joins Large Cap Category

Vedanta Aluminium Joins Large Cap Category

Vedanta Aluminium has entered the Large Cap category under the Association of Mutual Funds in India (AMFI) classification shortly after its stock market debut,marking...