Govt. clears Rs. 59,771-cr for urban upgrade

An investment involving a whopping sum of Rs. 59,771-cr has been approved by the Union Government of which, Rs.14,955-cr will be the Central Assistance and the remaining portion of funds will be generated by the state governments and respective civic bodies, to cater to their financing requirement. On this score, the Government also unveiled the Urban Development Strategy for the next 20 years intending to give a big push to use growing urbanization as an engine for rapid economic development while at the same time committing itself to address issues of sustainable development and climate change, Minister of Housing & Urban Poverty Alleviation, M.Venkaiah Naidu said, adding that the challenge is about ensuring sustainable development while taking advantage of economic growth that results from rapid urbanization in the country. The country needs to go for a big push to fully harness the potential of urbanization in an efficient, productive, inclusive, safe, and sustainable manner, he insisted.