India, Feb. 1 -- 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 infrast...