Consider the following statements regarding the Urban Challenge Fund (UCF) launched under the Union Budget 2025-26 framework: Statement I: The Urban Challenge Fund adopts a market-linked financing model to support bankable urban infrastructure projects, moving away from purely grant-based support. Statement II: The Fifteenth Finance Commission mandated the creation of the Urban Challenge Fund to replace the Smart Cities Mission as the primary vehicle for urban infrastructure financing. Which one of the following is correct in respect of the above statements?

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Current Affairs · Government Schemes

Verified Solution4 OptionsUpdated: October 2026👁️1 View

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Correct answer

Statement I is correct, but Statement II is incorrect.

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Answer 1

Statement I is incorrect, but Statement II is correct.

Answer 2

Statement I is correct, but Statement II is incorrect.

Answer 3

Both Statement I and Statement II are correct, but Statement II is not the correct explanation for Statement I.

Answer 4

Both Statement I and Statement II are correct, and Statement II is the correct explanation for Statement I.

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