Sat Feb 01 10:13:27 UTC 2025: ## Govt Announces ₹1 Lakh Crore Urban Infrastructure Fund, Boosts Housing & Street Vendor Schemes
**New Delhi** – Union Finance Minister Nirmala Sitharaman unveiled a massive ₹1 lakh crore Urban Challenge Fund in the Union Budget 2025-26, aimed at revitalizing urban infrastructure across India. The fund will support projects focusing on city development as growth hubs, creative urban redevelopment, and water and sanitation improvements. The government will contribute up to 25% of project costs, with the remaining funding sourced through bonds, bank loans, and public-private partnerships (PPPs). An initial allocation of ₹10,000 crore is earmarked for the fiscal year 2025-26.
The budget also highlighted significant progress in the affordable housing sector. The Special Window for Affordable and Mid-Income Housing (SWAMIH) has successfully completed 50,000 dwelling units in stalled projects, with keys handed over to homebuyers. An additional 40,000 units are expected to be completed in 2025. To further accelerate affordable housing, a new SWAMIH Fund 2, totaling ₹15,000 crore, will be established as a blended finance facility, targeting the completion of another 100,000 units.
Furthermore, the government announced improvements to the PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) scheme. The revamped scheme will offer enhanced bank loans, UPI-linked credit cards with a ₹30,000 limit, and capacity-building support for street vendors. The scheme has already benefited over 68 lakh street vendors, providing access to affordable credit and reducing their reliance on high-interest informal lenders.
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