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Statesman News Service

Reforms in states

The first generation of fiscal reforms in the states started with the enactment of Fiscal Responsibility and Budget Management Acts (FRBMA) between 2006 and 2010 at the prodding of the 12th Finance Commission.

Sitharaman announces Rs one lakh cr Urban Challenge Fund

Union Minister of Finance Nirmala Sitharaman, while presenting the Budget 2025-2026 in Parliament today, said the Government will set up an Urban Challenge Fund of Rs one lakh crore to implement the proposals for ‘Cities as Growth Hubs’, ‘Creative Redevelopment of Cities’ and ‘Water and Sanitation’ announced in the July Budget.