Cabinet approves launch of Urban Challenge Fund

The Union Cabinet has approved the launch of the Urban Challenge Fund (UCF) with a total central assistance of Rs 1 lakh crore, Union Minister Ashwini Vaishnaw said on Saturday. Under the scheme, central assistance will cover 25 per cent of a project's cost, provided that at least 50 per cent of the funding is mobilised from the market. In a statement, the government said the initiative will lead to a total investment of Rs 4 lakh crore in the urban sector over the next five years.

VIDEO | Delhi: Cabinet Briefing by Union Minister Ashwini Vaishnaw.

The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Shri Narendra Modi, has approved the three projects of Ministry of Railways with total cost of Rs. 18,509 crore (approx.). These projects… pic.twitter.com/4Z04pEZuGy

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Vaishnaw announced that future Cabinet meetings will now take place at Seva Teerth. He added that a resolution was passed on the occasion, noting that South Block and North Block were built by the British to keep Indians in chains of servitude. The resolution also highlighted that South Block witnessed several landmark decisions after Independence and became a source of inspiration for the Minimum Government, Maximum Governance approach, including key reforms such as Digital India and GST.Vaishnaw said North and South Block will now become a part of Yuga Yugeen Bharat Museum.