With reference to the Urban Infrastructure Development Fund UIDF recently seen in news consider the ...........

Indian Economic System(MPPCS) Growth and development

With reference to the Urban Infrastructure Development Fund (UIDF) recently seen in news, consider the following statements

It will be established through the use of priority sector lending shortfall.
It will be managed by the Industrial Development Bank of India (IDBI).

Select the correct statement.

1 only

2 only

Both

None

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Explanation:

Finance Minister recently announced that government will set up an Urban Infrastructure Development Fund (UIDF) of Rs 10,000 crore per year for creating infrastructure in Tier-2 and Tier-3 cities.

About Urban Infrastructure Development Fund (UIDF)

UIDF will be established through the use of priority sector lending shortfall.
Purpose: The fund will be used by public agencies to create urban infrastructure in tier-2 and tier-3 cities.
It will be managed by the National Housing Bank.
It will be established on the lines of the Rural Infrastructure Development Fund (RIDF).
States will be encouraged to leverage resources from the grants of the 15th Finance Commission, as well as existing schemes, to adopt appropriate user charges while accessing the UIDF.