Union Budget 2025, Feb. 1 -- Union Finance Minister Nirmala Sitharaman announced the Urban Challenge Fund as she delivered her speech on Budget 2025-26 on Saturday, February 26.

Finance Minister Nirmala Sitharaman said, "The government will setup an Urban Challenge Fund of Rs.1 lakh crore to implement the proposals for (to make) cities as growth hubs, creative redevelopment of cities, and for water and sanitation purposes announced in the July Budget.

Sitharaman said this Urban Challenge Fund will finance upto 25 percent of the cost of bankable projects with the stipulation that at least 50 percent of the cost is funded from bonds, bank loans and PPPs; and allocation of Rs.10,000 crore is proposed in 2025-26

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