JAMMU: Chief Secretary Atal Dulloo on Monday chaired a high-level meeting to review the roadmap for implementation of the ambitious Urban Challenge Fund (UCF) in the Union Territory, emphasizing the need for identifying viable and bankable projects.
The meeting, attended by senior officers including Commissioner Secretary Housing & Urban Development and other heads of departments, discussed a comprehensive strategy for urban financing and infrastructure development.
During the review, Dulloo directed departments to strictly align proposed projects with scheme guidelines, noting that the initiative holds immense potential to transform urban centres into more liveable and citizen-friendly spaces.
He stressed the importance of preparing at least a dozen projects across the twin cities in sectors such as urban mobility, parking infrastructure, housing and beautification, ensuring their timely execution under the scheme.
Officials informed that under the UCF, central assistance will be limited to 25 percent of project cost, encouraging mobilization of at least 50 percent of funds through market sources like bonds, bank loans and public-private partnerships to ensure financial sustainability.
A detailed presentation on the scheme was given by Gurjeet Singh Dhillon, highlighting its funding structure and implementation framework. He noted that Jammu and Kashmir has the opportunity to bring a majority of its urban areas under the ambit of the programme.
Additional Chief Secretary Finance Shailendra Kumar emphasized the need to focus on bankable projects and learn from past experiences in executing PPP initiatives.
Managing Director of J&K Bank, Amitava Chatterjee, assured full support in facilitating access to market-based financing and building local capacity.
Commissioner Secretary Housing & Urban Development Mandeep Kaur informed that the Urban Challenge Fund, with a national outlay of ₹1 lakh crore, aims to transform urban development through sustainable and revenue-generating infrastructure projects.
She added that ₹90,000 crore is earmarked for infrastructure, while ₹5,000 crore each has been allocated for project preparation and credit guarantee mechanisms.
The meeting was also attended by representatives from National Housing Bank and Housing and Urban Development Corporation, who expressed interest in partnering for project execution.
Officials said the programme, to be implemented over five years from FY 2026, will focus on key areas including urban mobility, water and sanitation, redevelopment of cities, and strengthening of economic growth hubs.
The Chief Secretary reiterated that the Urban Challenge Fund presents a significant opportunity for Jammu and Kashmir to accelerate urban transformation and improve quality of life through innovative financing mechanisms.
