Redevelopment, reform sops at core of ₹1lakh-cr new urban fund

The Indian government is launching a ₹1 lakh crore Urban Challenge Fund to transform cities by redeveloping abandoned buildings and repurposing government land with private sector involvement. Around 300 cities will compete for funding, with the Centre contributing 25% of project costs, emphasizing drainage, sanitation, and incentivizing municipal reforms for urban growth.