The Economic Times

Rs 1.5 lakh crore infra push: Cabinet clears road, rail & urban projects, launches Urban Challenge Fund

The centrepiece of the package is the proposed Urban Challenge Fund (UCF), which will provide Rs 1 lakh crore in central assistance over five years. The fund will cover up to 25% of project costs, subject to states and urban local bodies raising at least 50% of funding from the market.