The Union Cabinet approved a ₹1 lakh crore Urban Challenge Fund (UCF) to finance urban infrastructure. In a first, Resident Welfare Associations (RWAs) and the private sector can partner with Urban Local Bodies (ULBs) to propose, fund, and run projects under a structured public-private partnership model.
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- ›Fund Size: ₹1 lakh crore
- ›Central Share: 25% of project cost
- ›Target this Data: ₹1 lakh crore total fund size; Central share is 25% of project cost.
- ›Target this Nodal Body: Ministry of Housing and Urban Affairs (MoHUA) to release guidelines.
- ›Target this Legal Point: RWAs likely to be recognized as 'private' entities under the fund's guidelines.
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