Every Indian city is being redesigned as we speak.

In March, the Union Cabinet approved the Urban Challenge Fund. It is the central government’s new financing model for Indian cities. One lakh crore from the centre. Four lakh crore total over five years, including private market financing. Here is how it works. The centre puts in 25 percent of any project cost. The city has to raise the remaining 50 percent from private capital. The other 25 percent comes from the state. To unlock the central money, a city has to make itself “investable” to private investors, in projects ranging from metro corridors to housing to water systems.Earlier, cities got grants from Delhi. Now they have to attract private capital by selling themselves as profitable bets. Investable to whom? Designed for whom? Decided by whom?These are not abstract questions. They will shape what your city looks like in 2030. The design of Indian cities is moving from a public conversation to a financial one. Most citizens do not know the conversation is happening. News Source: Business Standard

News Source: Business Standard