India News Live Today: February 2, 2025
Welcome to our live blog where we bring you the latest updates from India’s political landscape, economic developments, and significant news stories. Today, the Centre has made headlines with the unveiling of a ₹1 lakh crore urban challenge fund and a revamped PM-SVANidhi scheme, aimed at enhancing urban infrastructure and supporting street vendors across the nation.
Centre Unveils ₹1 Lakh Crore Urban Challenge Fund
The Government of India has announced a monumental ₹1 lakh crore urban challenge fund. This initiative is designed to empower cities and towns to tackle urbanization challenges, improve infrastructure, and promote sustainable development. The fund is expected to spur economic growth and enhance the quality of life for millions of urban residents.
Key Features of the Urban Challenge Fund
- Financial support for innovative urban infrastructure projects.
- Encouragement of public-private partnerships to boost investment.
- Focus on sustainable cities and climate-resilient infrastructure.
Revamped PM-SVANidhi Scheme
In conjunction with the urban challenge fund, the government has revamped the PM-SVANidhi scheme, which aims to provide financial assistance to street vendors. This initiative will offer enhanced benefits and streamlined processes for accessing loans, helping vendors recover from the economic impact of the pandemic.
Benefits of the Revamped PM-SVANidhi Scheme
- Increased loan amounts for street vendors.
- Improved access to credit and financial literacy programs.
- Support for digital payments and technology adoption.
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In conclusion, the announcement of the ₹1 lakh crore urban challenge fund and the revamped PM-SVANidhi scheme is a significant step toward economic revitalization and urban development in India. Stay tuned for more updates as we continue to cover today’s key stories.
