Union Finance Minister Nirmala Sitharaman announced an outlay of Rs 1.5 lakh crore for 50-year interest-free loans to states for capex and infrastructure. “The govt will set up an Urban Challenge Fund of Rs 1 lakh crore to implement the proposals to make cities as growth hubs..” Sitharaman said in her Budget speech on Saturday.
Also, an asset monetisation plan will be launched for 2025- 2030 period to infuse Rs 10 lakh crore capital in new projects.
Presenting the Budget for 2025-26, she also announced an outlay of Rs 500 crore for setting up a centre of excellence in artificial intelligence for education.
Further she added that the Budget outlay for Jal Jeevan Mission is being enhanced to achieve 100 per cent coverage. Sitharaman also said that urban sector reforms relating to governance, urban land and planning will be incentivised.