The Union Cabinet has approved the launch of the Rs 1 lakh crore Urban Challenge Fund (UCF), marking a strategic shift from grant-based to market-linked urban development. This fund aims to leverage private capital and reforms to generate Rs 4 lakh crore in urban infrastructure investments over five years, focusing on cities as growth hubs, creative redevelopment, and water & sanitation.
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- ›Total Central Assistance: Rs 1 lakh crore
- ›Expected Total Investment: Rs 4 lakh crore
- ›Target this Data: Rs 1 lakh crore (Central Assistance) and Rs 4 lakh crore (Total Investment).
- ›Target this Nodal Body: Ministry of Housing and Urban Affairs (MoHUA) - implied nodal ministry for urban development schemes.
- ›Target this Legal Point: The fund's operational period (FY 2025-26 to FY 2030-31, extendable to FY 2033-34).
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