NEW DELHI: Manohar Lal Khattar, union minister for housing and urban affairs, said that the Budget 2025 presented by finance minister Nirmala Sitharaman on February 1, 2025, will help improve the quality of life in urban areas.
“This budget aims to drive transformative reforms in six key areas over the next five years, with a focus on enhancing growth potential and strengthening global competitiveness. Among these, Urban Development is a key priority, aimed at modernizing cities, improving infrastructure, and enhancing the quality of urban living,” he said.
Khattar stated that the Budget 2025-26 lays a strong foundation for Viksit Bharat by driving transformative reforms in urban development, housing, and infrastructure. He emphasized that the budget will play a pivotal role in boosting the income of street vendors and improving the quality of life in urban areas.
Read how real estate industry reacted to Budget 2025
Housing minister highlighted that the establishment of a Rs 1 lakh crore Urban Challenge Fund to implement initiatives such as Cities as Growth Hubs, Creative Redevelopment of Cities, and Water and Sanitation reflects the government’s strong commitment to fostering sustainable and inclusive urban development. This initiative will enhance urban resilience and advance the vision of Viksit Bharat.
“This Budget reinforces our government’s commitment to ensuring that the benefits of urbanization reach every citizen,: said Khattar.
Housing minister emphasized that the revamped PM SVANidhi scheme, which has already benefited over 68 lakh street vendors, will further facilitate access to enhanced bank loans, introduce UPI-linked credit cards with a Rs 30,000 limit, and provide capacity-building support to empower street vendors.
