 "urban crisis response India, World Habitat Day, pollution, flooding, urban planning, Smart Cities Mission, AMRUT, NCAP, Janbhagidari, city governance, sustainable development")
India’s new ₹1 trillion Urban Challenge Fund (UCF) was announced in the Budget in February and is set to be operationalised. It marks a fundamental shift in the Centre’s role in urban financing — from an allocative model to a “challenge fund” format. The UCF offers 25 per cent of project costs on the condition that cities raise at least 50 per cent through public-private partnerships (PPPs) in the form of bonds, debt, or private equity. Therefore, cities will need a new playbook for project selection.
The contribution of PPP to urban projects has historically been
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