RAS question
What is the maximum interest subsidy amount per beneficiary under PMAY-U 2.0 ISS?
Correct answer: (C) ₹1.80 lakh.
Under PMAY-U 2.0 ISS, the maximum interest subsidy is Rs 1.80 lakh per eligible beneficiary.
Explanation
PMAY-U 2.0 treats the Interest Subsidy Scheme as the credit-linked vertical for eligible EWS, LIG and MIG beneficiaries taking home loans for purchase, re-purchase or construction of houses. The scheme guidelines cap the actual interest subsidy at Rs 1.80 lakh per beneficiary. The subsidy is linked to eligible home loans and is provided in five annual instalments of Rs 36,000 each. Under ISS, the operative benefit ceiling is not the eligible loan amount or house value, but the subsidy amount that can actually reach one beneficiary.
Why the other options are wrong
- (A) Rs 1.00 lakh understates the notified ceiling; the PMAY-U 2.0 ISS cap is Rs 1.80 lakh per eligible beneficiary.
- (B) Rs 1.50 lakh is not the maximum interest subsidy amount; the guidelines place the actual subsidy cap at Rs 1.80 lakh.
- (D) Rs 2.50 lakh overstates the benefit because PMAY-U 2.0 ISS allows interest subsidy only up to Rs 1.80 lakh per beneficiary.
Concept
RAS Indian Economy coverage often includes exact benefit ceilings under flagship welfare schemes. PMAY-U 2.0 also recurs because it combines urban housing policy with credit-linked subsidy delivery.