NARENDRA MODI December 31, 2016:  He announced two subsidy schemes under Prime Minister Awas Yojana (PMAY).  Homebuyers earning less than Rs 6 lakh per annum will get a subsidy of 6.5 % on a principal component of Rs 6 lakh, regardless of their total loan amount.  In the next bracket, people earning up to Rs 12 lakh per annum will get interest subsidy of 4 % on a principal component of Rs 9 lakh. The income category of Rs 18 lakh per annum will get a subsidy of 3 % on a principal component of Rs 12 lakh.