To spice up city infrastructure, Union Finance Minister Nirmala Sitharaman on Saturday introduced that the federal government will arrange an City Problem Fund of ₹1 lakh crore to implement the proposals for ‘cities as development hubs’, ‘artistic redevelopment of cities’ and ‘water and sanitation’.
Union Finance Minister Nirmala Sitharaman presents the Union Finances 2025-26 within the Lok Sabha, in New Delhi, Saturday, Feb. 1, 2025. (Sansad TV)
Additionally Learn: India to offer $647 million to assist strategic reserve oil purchases in 2025-26
Presenting the Union Finances 2025-26, Sitharaman mentioned the fund will finance as much as 25 per cent of the price of bankable tasks with a stipulation that not less than 50 per cent of the price is funded by bonds, financial institution loans, and public-private partnerships (PPPs).
An allocation of ₹10,000 crore has been proposed for 2025-26, she mentioned.
The finance minister additionally mentioned that below the Particular Window for Inexpensive and Mid-Earnings Housing (SWAMIH), 50,000 dwelling models have been accomplished within the harassed housing tasks, with keys handed over to the homebuyers.
Additionally Learn: Donald Trump says tariffs for Canada, Mexico start tomorrow; but to take name on oil
One other 40,000 models will probably be accomplished in 2025, additional serving to middle-class households which had been paying EMIs on loans taken for residences, whereas additionally paying lease for his or her present dwellings, she mentioned.
“Building on this success, a SWAMIH Fund 2 will be established as a blended finance facility with contributions from the government, banks and private investors. This fund of ₹15,000 crore will aim for expeditious completion of another one lakh units,” Sitharaman mentioned.
The finance minister additionally introduced that the PM Road Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) will probably be revamped with enhanced loans from banks, UPI-linked bank cards with ₹30,000 restrict, and capacity-building assist.
Additionally Learn: Cupboard hikes ethanol value to spice up fuel-blending programme
The scheme has benefitted greater than 68 lakh road distributors, giving them respite from high-interest casual sector loans, she mentioned.
PM SVANidhi is a particular micro-credit facility for offering reasonably priced loans to road distributors.