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POLICY REVIEW


              study indicated that, in spite   policy making in India. This   Urban World. Volume 17,
              of the scheme’s poor coverage   budget has acknowledged the     Number 1, January-March,
              and small short term financial   importance of formulating      2024. Regional Centre for
              assistance   of  Rs.   10000,   a framework for enabling        Urban    &    Environmental
              the   scheme     beneficiaries  policies, bankable projects and   Studies (RCUES),  All India
              utilised the money to ease      market-based    mechanisms.     Institute  of    Local   Self
              their business losses during    Empowerment of the city         Government         (AIILSG),
              COVID and to avoid debt trap    government in terms of          Mumbai.https://www.aiilsg.
              of the private moneylenders.    functions,   finances    and    org/pdf/Final_The%20
              Provision of 100 weekly         functionaries should centrally   Urban%20World%20Jan_-
              ‘haats’ or street food hubs in   feature in that  framework.    March_%202024.pdf
              select cities, as declared in   Empowered city governments
              the budget, would hardly be     can better conceive  bankable   Harish, S. (2021).  Affordable
              able to address the livelihood   projects and leverage the      rental housing complexes
              challenges of millions of       market-based        financing   scheme and private rental
              urban    informal    workers    instruments.   Finally,   the   housing in    Indian  cities.
              including the street vendors.   foregoing  discussion  reveals   Economic    and     Political
              There is a strong need for      exclusionary    trend    and    Weekly. Vol LVI No 16. April.
              extending  the outreach of      perspective in-built  in the    HPEC (2011): Report on
              PM SVANidhi with higher         urban development program       Indian  Urban  Infrastructure
              limit of credit,  awareness     as well as policy design. So,   and Services, March.
              campaigning, simplification     instead of focusing on the      https://pmaymis.gov.in/
              of loan application process     needs of the urban poor in
              and involvement of the city     isolation, it is imperative to   Indian Council for Research
              government  to meet the         integrate their needs through   on International Economic
              livelihood challenges of the    participatory urban planning    Relations. (2020). Housing for
              street vendors.                 and governance so as to         India’s       low-income
                                              achieve the mission of Viksit   households     a     demand
              Summing Up                      Bharat – Developed India by     perspective,   W o r k i n g
              With the limited availability   2047.                           Paper 402. New Delhi,
              of    urban     infrastructure                                  December.
              investment in India, it is      References                      Indo Global Social Service
              crucial to augment the scale    Athar, S., White, R. and Goyal,   Society Publications. (2021).
              of urban investment. Annual     H. (2022). Financing India’s    Progress of the PM SVANidhi
              budgetary allocations can,      urban infrastructure needs:     Credit  Scheme. May
              at best, partly contribute      Constraints to commercial
              to that endeavor.  State        financing and prospects for     Khaire, M. (2023). Exclusion
              and local governments  are      policy  action.  Washington,    by design: a case study of an
              required to complement  the     D.C.:   World Bank.             Indian urban housing subsidy
              central allocations for urban                                   scheme        Policy     and
              investment.  Availability  as   Chattopadhyay,     S.    and    Society. 42(4). 493-505.
              well as utilisation of market-  Kumar,  A. (2024). Cities &
              based financing mechanisms      Interim Union Budget 2024-      Kundu, A.  and  Kumar, A.
              can  be  useful  for  trimming   25 towards Viksit Bharat:      (2017). Housing for the Urban
              the investment deficits. This   Opportunities & Challenges      Poor: Changes in Credit-
              requires rethinking the urban   for Urban Development. The      linked  Subsidy.   Economic



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