₹1 lakh crore fund to revamp urban infrastructure
India just rolled out the Urban Challenge Fund—a massive ₹1 lakh crore push to upgrade city infrastructure and services.
The government will chip in for 25% of project costs, providing central assistance over a period of five years.
Cities need to raise half the project money themselves
The fund is set up to spark a total investment of ₹4 lakh crore.
To get a slice, cities need to raise at least half the project money themselves—think bonds, loans, or teaming up with private players.
Only projects that promise real impact and sustainability will make the cut.
Big cities, state capitals in focus
Big cities (10 lakh or more people), state capitals, and industrial hubs are in focus.
Smaller towns under 1 lakh population aren't left out—they can get help through loan guarantees for their first big projects.
Expect better transit corridors, greener city development
Expect better transit corridors, greener city development, and creative makeovers for old neighborhoods.
There's also a push to fix water and sanitation—like modern sewer systems and cleaning up waste—for healthier urban living.