India, Feb. 1 -- An urban challenge fund of Rs.1 lakh crore for transforming cities into "growth hubs", Rs.15,000 crore SWAMIH 2.0 fund (special window for affordable and mid-income housing) for the construction of 100,000 stuck housing units, and a revamped PM SVANidhi (Street Vendors AtmaNirbhar Nidhi) scheme were the major announcements Union finance minister Nirmala Sitharaman made for the urban sector in her Budget speech on Saturday.

The finance minister said that urban development is among the six key areas where the budget aims at "transformative" reforms, along with taxation, the financial sector, the power sector, mining, and regulatory reforms.

The FM also announced the second asset monetisation plan, which aims to enhance go...