India, Feb. 1 -- The Government of India issued the following news release:
Union Minister of Finance and Corporate Affairs, Smt. Nirmala Sitharaman, while presenting the Budget 2025-2026 in the Parliament today said that the Government will set up an Urban Challenge Fund of ' 1 lakh crore to implement the proposals for 'Cities as Growth Hubs', 'Creative Redevelopment of Cities' and 'Water and Sanitation' announced in the July Budget.
She further added this fund will finance up to 25 per cent of the cost of bankable projects with a stipulation that at least 50 per cent of the cost is funded from bonds, bank loans, and PPPs. An allocation of ' 10,000 crore is proposed for 2025-26.
The Budget has proposed that a National Geospatial Mission...