The Indian government’s plan to spend Rs 10,000 crore every year on the Urban Infrastructure Development Fund is a significant step towards building new cities and modernizing outdated infrastructure in Tier 2 and Tier 3 cities. This investment will not only improve the quality of life for residents in these cities but also create new opportunities for businesses and entrepreneurs. The funds will be utilized to develop infrastructure projects such as roads, bridges, public transportation, and other essential facilities. This move will help bridge the gap between urban and rural areas, leading to more balanced growth across the country.
Highlights
- Government to spend Rs 10,000 crore annually on Urban Infrastructure Development Fund.
- Focus on building new cities and updating outdated infrastructure.
- Funds will be used for infrastructure development in Tier 2 and Tier 3 cities.
- Aiming to improve the overall living conditions and boost economic growth in smaller cities.
