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The Ministry of Housing and Urban Affairs launched the Operational Guidelines for the Urban Challenge Fund (UCF) to catalyse a shift in urban development.
The UCF encourages cities to transition towards market-based financing and positions them as a bankable asset class.
A total of ₹1 lakh crore in central assistance has been earmarked under the fund for utilization by States and UTs.
To spur innovation in urban infrastructure and governance.
Key: Provides performance-based grants to cities that propose innovative solutions.
Nodal ministry for implementing urban development funds and missions.
GS Paper 3 > Investment Models
With reference to 'Asia Pacific Ministerial Conference on Housing and Urban Development (APMCHUD)', consider the following statements: 1. The first APMCHUD was held in India in 2006 on the theme 'Emerging Urban Forms - Policy Responses and Governance Structure'. 2. India hosts all the Annual Ministerial Conferences in partnership with ADB, APEC and ASEAN. Which of the statements given above is/are correct?
Answer: 1 only
A fund introduced by MoHUA with ₹1 lakh crore central assistance to encourage market-based financing and make cities bankable asset classes.
A private entity designated by ULBs for integrated delivery of housing, infrastructure, and operations/maintenance in large-scale urban development.