Understanding Union Budget 2024: Development Plans for 14 Large Cities
The central government plans to develop 14 large cities into "growth hubs" with significant financial and infrastructural investments.
The central government has unveiled plans to transform 14 large cities with populations over 30 lakh into "growth hubs." Though the specific cities have not been named, the development will include significant financial and infrastructural improvements.
Key points of the plan include:
1. Urban Housing and Home Loans:
- ?2.2 lakh crore will be allocated for urban housing.
- An interest subsidy home loan scheme will be introduced.
2. Rural Markets and Food Hubs:
- 100 rural markets (haats) and street food hubs will be developed in these cities.
3. Water and Waste Management:
- New projects for water supply, sewage treatment, and solid waste management will be built.
- Existing services will be enhanced in collaboration with state governments and banks.
4. Stamp Duty and Property Rebates:
- States will receive help to reduce stamp duty on properties.
- Additional rebates and lower stamp duties will be provided for women buyers.
5. Land Record Digitisation:
- Land records will be digitised.
- Every rural land parcel will be assigned a Unique Land Parcel Identification Number (Bhu-Aadhaar).
These initiatives aim to stimulate growth, improve infrastructure, and make housing more affordable in the targeted cities. The government’s approach includes creative financial solutions and partnerships to ensure comprehensive urban development.
Stay tuned to ISH News for further updates on the development of these cities.
