India Launches Rs. One Lakh Crore Urban Challenge Fund
The Indian government, led by Prime Minister Narendra Modi, has inaugurated the Urban Challenge Fund with a Central Assistance of Rs. One lakh crore. This initiative aims to generate a total urban sector investment of Rs. Four lakh crore over five years by pivoting from grant-based to market-linked, reform-oriented infrastructure funding. The fund will emphasize market finance, private sector involvement, and significant urban reforms to create inclusive, resilient, and climate-responsive cities. The program underlines a shift towards project financing through market sources, supporting urban governance reforms, and targeting cities with significant economic potential.
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