Projects worth ₹31,000 crore approved under Urban Challenge Fund: MoHUA official
The Ministry of Housing and Urban Affairs (MoHUA) approved projects worth ₹31,000 crore under the Urban Challenge Fund just 20-25 days after finalizing its guidelines. D Thara, additional secretary at MoHUA, noted that 44% of the funding comes from non-banking financial companies, while public-private partnerships contribute 22%. The initiative shifts from subsidy-based programs to a challenge-based model, allowing viability gap funding to cover up to 50% of project costs, split between central and state governments.