New Delhi: The Narendra Modi-led government will work to bring out a Model Tenancy Law, Nirmala Sitharaman said on Friday while presenting her maiden Union Budget on Friday.

“Current rental laws are archaic as they do not address lessor-lessee relationships fairly...Model tenancy law will be finalized and circulated to states," Sitharaman said.

She also said the government will push for reforms to promote rental housing across states.

Highlighting her government’s commitment to provide affordable housing for all, Sitharaman said about 1.5 crore homes were completed in the first phase of Pradhan Mantri Awas Yojana (PMAY).

About 1.95 crore houses are proposed to be provided in the second phase of PMAY, she said.

This will be part of efforts to fulfil the Narendra Modi-government’s ambitious ‘Housing for All’ policy by 2022, which focuses on providing affordable housing pan-India.

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