Rs 8,000-Cr New Cities Scheme Scrapped: Funds Unused, 15th FC Period Ends

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Rs 8,000-Cr New Cities Scheme Scrapped: Funds Unused, 15th FC Period Ends

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News18•12-03-2026, 19:15

Rs 8,000-Cr New Cities Scheme Scrapped: Funds Unused, 15th FC Period Ends

•The Union Housing and Urban Affairs Ministry informed Lok Sabha that the Rs 8,000-crore scheme to incubate eight new cities cannot be implemented.
•The 15th Finance Commission's award period ends March 31, 2026, and the grant remained unutilised for five years.
•Proposals for new cities lacked robust institutional and governance frameworks, raising concerns about efficient fund utilisation.
•New cities require massive, long-term public investment with strong revenue models, which were not convincingly addressed.
•Budgetary provisions for the scheme were re-appropriated; the Union Budget 2026-27 now proposes seven City Economic Regions (CERs).

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