New Delhi, Feb 1 (PTI) Union Housing and Urban Affairs Minister Manohar Lal Khattar on Saturday said that the Union Budget for 2025-26 will play a pivotal role in boosting the income of street vendors and improving the quality of life in urban areas.

In a statement, the minister said that the Rs 1 lakh crore Urban Challenge Fund announced by Finance Minister Nirmala Sitharaman reflects the government's strong commitment to fostering sustainable and inclusive urban development.

The 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 modernising cities, improving infrastructure, and enhancing the quality of urban living, according to the HUA ministry.

"The Budget for 2025-26 lays a strong foundation for Viksit Bharat by driving transformative reforms in urban development, housing, and infrastructure," the minister said, emphasising that the budget will play a pivotal role in boosting the income of street vendors and improving the quality of life in urban areas.

He highlighted that the establishment of the 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, he also said.

"This Budget reinforces our government's commitment to ensuring that the benefits of urbanisation reach every citizen," the statement quoted him as saying.

He emphasised 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. PTI BUN ARD ARD ARD

Urban development fund to boost street vendors' incomes through targeted finance, capacity-building and digital payments access. Budget establishes an Urban Challenge Fund to finance urban infrastructure and redevelopment while aiming to boost street vendors' incomes by expanding credit access under a revamped PM SVANidhi scheme, introducing UPI-linked credit cards and providing capacity-building support to enhance financial inclusion and urban resilience.