Under the leadership of Chief Secretary Atal Dulloo, a high-level meeting was held to assess the plan for implementing the Urban Challenge Fund (UCF) in Jammu and Kashmir. The meeting centred around the importance of promptly identifying successful and financially viable urban projects.
A groundbreaking financing approach was unveiled by the Housing and Urban Development Department in a recent roadmap. Under this model, market sources such as bonds, loans, and public-private partnerships will provide at least half of the project expenses, with federal aid covering the remaining 25%.
Dulloo ordered ministries to identify and prioritise a minimum of twelve feasible projects in the twin cities’ transport, parking, housing and aesthetics sectors in order to highlight the scheme’s ability to improve urban infrastructure.
The structure and operational framework of the fund were detailed by officials from the Ministry of Housing and Urban Affairs. They highlighted that the fund covers a wide range of urban local bodies, particularly Tier-II and Tier-III cities.
Financially viable projects should be prioritised, according to Additional Chief Secretary Shailendra Kumar, while J&K Bank’s Amitava Chatterjee has promised cooperation in supporting market-based funding.
Major allocations for infrastructure, capacity building, and loan guarantees are part of the 1 lakh crore budget, which Commissioner Secretary Mandeep Kaur emphasised as being intended to promote sustainable urban growth.
Soon to be signed memoranda of understanding will formally commence the program, which is slated to begin in FY 2026 and will concentrate on growth centers, city reconstruction, water and sanitation, and other related issues.
