India, Feb. 14 -- The Government of India has issued a release:
The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi, yesterday approved the launch of the Urban Challenge Fund (UCF) with a total Central Assistance (CA) of Rs. One lakh crore. CA will cover 25% of the project cost, subject to raising minimum 50% of the project cost from market. This will lead to a total investment of Rs. Four lakh crore in urban sector in next five years, marking a paradigm shift in India's urban development approach from grant- based financing to market-linked, reform-driven and outcome-oriented infrastructure creation.
The Urban Challenge Fund will leverage market finance, private participation and citizen- centric reforms for delivery of h...