Cabinet clears Rs 1 lakh crore for India's big urban reset; aims to unlock Rs 4 lakh crore investment

The Union Cabinet has approved a Rs 1 lakh crore Urban Challenge Fund. This initiative aims to boost urban infrastructure development over the next five years. It encourages market-led projects and reforms. The fund will provide central assistance for projects that attract significant private investment. This move is set to transform cities into growth hubs and improve their creditworthiness.