Urban Challenge Fund, National Geospatial Mission and Support Measures for Gig Workers
IN NEWS – Urban Challenge Fund, National Geospatial Mission and Support Measures for Gig Workers
ANALYSIS
1. Urban Challenge Fund: Making Cities Growth Hubs
- The Budget 2025–26 proposes a ₹1 lakh crore Urban Challenge Fundto operationalise:
- Cities as Growth Hubs
- Creative Redevelopment of Cities
- Water and Sanitation initiatives
- The fund will:
- Finance up to 25% of bankable projects.
- Mandate that at least 50% of project costs be raised from bonds, bank loans, and PPPs.
- Allocation for FY 2025–26: ₹10,000 crore.
- Aim: To stimulate large-scale urban transformation and enhance municipal financing capacity.
2. National Geospatial Mission
- A National Geospatial Mission will be launched to develop foundational geospatial infrastructure and datasets.
- Mission will leverage PM Gati Shaktifor:
- Modernizing land records.
- Enabling scientific and efficient urban planning.
- Designing infrastructure projects with high spatial precision.
- Outcome expected: Improved data-driven decision-making and enhanced project execution.
3. Socio-Economic Support for Urban Workers
- A new scheme will be introduced for urban poor and vulnerable groupsfocusing on:
- Income enhancement.
- Sustainable livelihoods.
- Better quality of life.
4. Support to Gig Workers
- Recognizing gig workers as crucial contributors to the service economy, government will:
- Provide identity cards and e-Shram portal registration.
- Extend healthcare coverage under PM Jan Arogya Yojana.
- Expected beneficiaries: Nearly 1 crore gig workers.
5. Enhancements Under PM SVANidhi Scheme
- PM SVANidhi has already supported over 68 lakh street vendors with formal credit access.
- Revamp proposed with:
- UPI-linked credit cards with ₹30,000 limit.
- Enhanced loan access and capacity-building initiatives.
- Objective: Reduce dependence on informal, high-interest loans and widen digital financial inclusion.
6. SWAMIH Fund – Delivering Stalled Housing Units
- Under the existing SWAMIH window:
- 50,000 units in stressed housing projects have been completed.
- 40,000 additional units to be completed in 2025.
- Beneficiaries include middle-class families facing dual burden of EMIs and rent.
- SWAMIH Fund 2to be launched with:
- Corpus: ₹15,000 crore, with contributions from government, banks, and private investors.
- Target: 1 lakh housing units, ensuring timely delivery of stalled real estate projects.
NECESSARY STATIC PART (As per input only)
- Urban Challenge Fund size: ₹1 lakh crore.
- National Geospatial Mission linked with PM Gati Shakti.
- Gig workers to be included under PM-JAY health coverage.
- PM SVANidhi to introduce ₹30,000 UPI-linked credit cards.
- SWAMIH Fund 2 corpus: ₹15,000 crore, target of 1 lakh units.
- Beneficiaries under PM SVANidhi: 68 lakh street vendors.
- Expected gig worker beneficiaries: 1 crore.
