NEW DELHI, Feb. 14 -- The Union cabinet has approved schemes and infrastructure projects with a cumulative outlay of Rs.1.6 trillion, including the Urban Challenge Fund for urban development and the Rs.10,000 crore Startup India Fund of Funds 2.0, union minister for information & broadcasting Ashwini Vaishnaw said on Saturday.

The decisions were taken at a cabinet meeting on Friday.

With central assistance of Rs.1 trillion, the Urban Challenge Fund will leverage market finance and private participation for urban development projects and, according to the government, attract investments worth Rs.4 trillion over the next five years.

The fund will be operational from FY26 to FY31, with project implementation allowed to continue till FY34....