JAMMU, Apr 6 (NVI): Chief Secretary Atal Dulloo on Monday directed departments to fast-track identification of “bankable” projects for implementation under the ambitious Urban Challenge Fund (UCF), asserting that the scheme offers a major opportunity to transform urban infrastructure across Jammu and Kashmir.
Chairing a high-level review meeting, the Chief Secretary stressed that projects must strictly align with scheme guidelines and be prepared in a time-bound manner to fully leverage the fund. He called for shortlisting at least a dozen viable projects across the twin cities, focusing on urban mobility, parking, housing, beautification and other priority sectors.
Dulloo said the Union Territory should optimally utilise the scheme to upgrade infrastructure and make cities more liveable and citizen-friendly, terming the UCF a “catalytic instrument” for urban transformation.
Officials informed the meeting that central assistance under the fund will be limited to 25 per cent of project cost, aimed at mobilising at least 50 per cent through market-based sources such as bonds, bank loans and public-private partnerships (PPP), reducing reliance on traditional budgetary support.
A detailed presentation by the Housing and Urban Development Department highlighted that the ₹1 lakh crore national outlay scheme seeks to drive a paradigm shift in urban financing by promoting sustainable, revenue-generating infrastructure projects.
Additional Chief Secretary Finance Shailendra Kumar emphasised the need to prioritise bankable projects and learn from past PPP experiences to avoid execution bottlenecks.
Managing Director of Jammu & Kashmir Bank, Amitava Chatterjee, assured full support in facilitating access to market financing and building local capacity.
Commissioner Secretary, Housing & Urban Development, Mandeep Kaur, said ₹90,000 crore of the total outlay is earmarked for infrastructure projects, while ₹5,000 crore each has been allocated for project preparation and credit guarantee mechanisms.
The scheme, to be implemented over five years from FY 2026, will cover a wide range of urban local bodies, including major cities, industrial towns and all ULBs in hilly and special category regions, with a focus on Tier-II and Tier-III cities.
Key verticals under the fund include growth hubs, creative city redevelopment, and water and sanitation, with proposed interventions spanning economic corridors, transit-oriented infrastructure, heritage revitalisation, and climate-resilient urban systems.
Officials said MoUs between the Union Territory and the Ministry of Housing and Urban Affairs will be signed shortly, marking the formal launch of the programme.
Reiterating the significance of the initiative, Dulloo said the Urban Challenge Fund can accelerate urban transformation, strengthen economic growth centres and significantly improve quality of life through innovative financing models.(NVI)
