Fintech
Travel Tech
Electric Vehicle
Health Tech
Edtech
IT
Logistics
Retail
Ecommerce
Startup Ecosystem
Enterprise Tech
Clean Tech
Consumer Internet
Agritech
During her eighth consecutive Union Budget on Saturday, finance minister Nirmala Sitharaman announced several measures, one of which focusses on urban sector reforms
The government will set up an Urban Challenge Fund worth INR 1 Lakh Cr to implement proposals aimed at transforming cities into growth hubs, facilitating creative redevelopment, and improving water and sanitation infrastructure
This fund aims to transform cities into growth hubs, drive creative redevelopment, and enhance water and sanitation infrastructure, as announced in the July budget
Finance minister Nirmala Sitharaman announced a number of measures during her eighth consecutive Union Budget on Saturday (February 1). One of them focusses on urban sector reforms.
Building on the proposals from the July budget, the government will incentivise governance, municipal services, urban land management, and planning.
During the speech, the minister said that, “The government will set up an Urban Challenge Fund worth INR 1 Lakh Cr to implement proposals aimed at transforming cities into growth hubs, facilitating creative redevelopment, and improving water and sanitation infrastructure.”
This fund aims to transform cities into growth hubs, drive creative redevelopment, and enhance water and sanitation infrastructure, as announced in the July budget.
This fund will finance up to 25% of the cost of bankable projects, with the stipulation that at least 50% of the cost be funded through bonds, bank loans, and public-private partnerships (PPPs). Additionally, an allocation of INR 10,000 Cr is proposed for the fund in the financial year 2025-26.
