<p>New Delhi: In a major push to strengthen urban growth, the government will set up seven city economic regions (CERs), including in Bengaluru, Surat and Varanasi, with a proposed allocation of Rs 5,000 crore per region over five years.</p><p>The plans will be implemented in a "challenge mode".</p><p>Presenting the Union Budget in the Lok Sabha, Union Finance Minister Nirmala Sitharaman described cities as India's engines of growth, innovation and opportunity.</p><p>She added that the new initiative would focus on Tier II and Tier III cities, as well as temple towns, which require modern infrastructure and improved basic amenities.</p><p>In the Budget 2026-27, the government has proposed over Rs 2,000 crore for two new schemes -- CERs and Regional Medical Hubs.</p>.Union Budget 2026: Govt eases compliance burden for individuals buying immovable properties from non-residents.<p>According to the budgetary document, the allocation has been proposed for seven city economic regions -- Bengaluru, Bhubaneshwar-Puri-Cuttack tricities, Coimbatore-Erode-Tiruppur, Pune, Surat, Varanasi and Vishakhapatanam.</p><p>The amount will be used for implementing their plans in a Public-Private-Partnership mode with a reform-cum-results based financing mechanism.</p><p>The minister said that the Budget aims to further amplify the potential of cities to deliver the economic power of agglomerations by mapping CER, based on their specific growth drivers.</p><p>"An allocation of Rs 5,000 crore per CER over 5 years is proposed for implementing their plans through a challenge mode with a reform-cum-results based financing mechanism," Sitharaman said.</p><p>She said that during the past decade, her government has undertaken several initiatives for large-scale enhancement of public infrastructure, including through new financing instruments such as Infrastructure Investment Trusts (InVITs) and Real Estate Investment Trusts (REITs) and institutions like NIIF and NABFID.</p><p>The government will continue to focus on developing infrastructure in cities with over 5 lakh population (Tier II and Tier III), which have expanded to become growth centres.</p>
<p>New Delhi: In a major push to strengthen urban growth, the government will set up seven city economic regions (CERs), including in Bengaluru, Surat and Varanasi, with a proposed allocation of Rs 5,000 crore per region over five years.</p><p>The plans will be implemented in a "challenge mode".</p><p>Presenting the Union Budget in the Lok Sabha, Union Finance Minister Nirmala Sitharaman described cities as India's engines of growth, innovation and opportunity.</p><p>She added that the new initiative would focus on Tier II and Tier III cities, as well as temple towns, which require modern infrastructure and improved basic amenities.</p><p>In the Budget 2026-27, the government has proposed over Rs 2,000 crore for two new schemes -- CERs and Regional Medical Hubs.</p>.Union Budget 2026: Govt eases compliance burden for individuals buying immovable properties from non-residents.<p>According to the budgetary document, the allocation has been proposed for seven city economic regions -- Bengaluru, Bhubaneshwar-Puri-Cuttack tricities, Coimbatore-Erode-Tiruppur, Pune, Surat, Varanasi and Vishakhapatanam.</p><p>The amount will be used for implementing their plans in a Public-Private-Partnership mode with a reform-cum-results based financing mechanism.</p><p>The minister said that the Budget aims to further amplify the potential of cities to deliver the economic power of agglomerations by mapping CER, based on their specific growth drivers.</p><p>"An allocation of Rs 5,000 crore per CER over 5 years is proposed for implementing their plans through a challenge mode with a reform-cum-results based financing mechanism," Sitharaman said.</p><p>She said that during the past decade, her government has undertaken several initiatives for large-scale enhancement of public infrastructure, including through new financing instruments such as Infrastructure Investment Trusts (InVITs) and Real Estate Investment Trusts (REITs) and institutions like NIIF and NABFID.</p><p>The government will continue to focus on developing infrastructure in cities with over 5 lakh population (Tier II and Tier III), which have expanded to become growth centres.</p>