Question

The credit linked subsidy housing scheme of Government of India, PMAY stands for

• A. Prime Minister Awas Yojana
• B. Pradhan Mantri Awas Yojana
• C. Pradhan Mantri Award Yojana
• D. Pradhan Mantri Army Yojana

Hint:

The word "Awas" in Hindi/Sanskrit means housing or home.
Associating the sector of the scheme (housing) with the term "Awas" helps narrow down the correct option immediately.

Answer 1

The Correct Option is B

Step 1: Understanding the Question:
This question requires identifying the correct full form of the abbreviation "PMAY", which is a credit-linked subsidy housing scheme of the Government of India.

Step 2: Key Formulas and approach:
"PMAY" is an acronym where "PM" typically stands for "Pradhan Mantri" in Indian central government schemes.
Since it is a "housing scheme", we must identify the Sanskrit/Hindi word for housing or dwelling, which is "Awas".

Step 3: Detailed Explanation:

• Pradhan Mantri Awas Yojana (PMAY) was launched in June 2015 with the vision of providing "Housing for All" in urban and rural areas.

• The scheme provides a Credit Linked Subsidy Scheme (CLSS) on home loans for purchase, construction, or enhancement of houses.

• PMAY is split into two components: PMAY-Urban (PMAY-U) and PMAY-Gramin (PMAY-G).

• The options "Prime Minister Awas Yojana" uses English instead of the official Hindi title, while "Award Yojana" and "Army Yojana" are completely incorrect terms.


Step 4: Final Answer:
The correct expansion for PMAY is "Pradhan Mantri Awas Yojana", corresponding to Option (B).