India Pulse | February 14-15, 2026: Your Weekend Digest of India's Governance, Progress, and Vision
The India Pulse Weekend Newsletter for February 14-15, 2026 covers Cabinet approving Rs. one lakh crore Urban Challenge Fund, Rs 10,000 crore Startup India Fund 2.0, major rail and highway projects worth over Rs. 48,000 crore to boost connectivity, Noida Metro extension with 8 stations, India-AI Impact Summit 2026 set to begin, Jaishankar holding high-level meetings on sidelines of Munich Security Conference 2026, and ECI suspending 7 AEROs in West Bengal over multiple allegations of irregularities.
NEWS IN DETAIL
Cabinet approves Rs. One Lakh Crore Urban Challenge Fund
The Union Cabinet chaired by Prime Minister Narendra Modi has approved the launch of the Urban Challenge Fund (UCF) with a total Central Assistance (CA) of Rs. One lakh crore.
The CA will cover 25% of the project cost, subject to raising minimum 50% of the project cost from market. This will lead to a total investment of Rs. Four lakh crore in urban sector in next five years, marking a paradigm shift in India’s urban development approach from grant- based financing to market-linked, reform-driven and outcome-oriented infrastructure creation.
The Urban Challenge Fund will leverage market finance, private participation and citizen- centric reforms for delivery of high-quality urban infrastructure. The Fund aims to build resilient, productive, inclusive and climate-responsive cities, positioning those as key driver of the country’s next phase of economic growth.
The Fund will be operational from FY 2025–26 to FY 2030–31, with an extendable implementation period up to FY 2033–34. It gives effect to the Government’s vision announced in Budget 2025–26 to implement proposals relating to Cities as Growth Hubs, Creative Redevelopment of Cities, and Water and Sanitation.
Credit Repayment Guarantee for Smaller Cities:
In order to facilitate first-time access to market finance for all Cities/ULBs in Northeastern & Hilly States and smaller ULBs (<1,00,000 population) in other States/UTs, a Credit Repayment Guarantee Scheme of ₹5,000 crore has been approved. The scheme will provide a Central guarantee of up to ₹7 crore or 70 per cent of the loan amount (whichever is lower) for first-time loans. On successful repayment of first loan, central guarantee of ₹7 crore or 50 per cent of the loan amount (whichever is lower) will be provided. This will effectively support projects of minimum Rs.20 crore for the first time and Rs.28 crore for subsequent projects in smaller cities.
Challenge-Based Project Selection:
Projects under the Fund will be selected through a challenge-based framework including transformative impact, sustainability & reform orientation. Funding will be linked to reforms, milestones and clearly defined outcomes. Continuation of reforms will be a prerequisite for further fund release. Paperless monitoring of projects and reforms will be facilitated through a single digital portal of the Ministry of Housing and Urban Affairs.
Project Verticals:
Cities as Growth Hubs, identification of city regions, important economic nodes, integrated spatial economic & transit planning - including greenfield and semi-greenfield developments, and development along transit and economic corridors, urban mobility, critical infrastructure projects to enhance economic competitiveness;
Creative Redevelopment of Cities, covering renewal of central business districts and heritage cores, brownfield regeneration, Transit Oriented Development and retrofitting of legacy infrastructure, Climate resilience, disaster mitigation and countermagnets to decongest the existing cities in Northeastern & Hilly States; and
Water and Sanitation, including upgradation of water supply, sewerage and stormwater systems, Rurban infrastructure, water grids and integrated solid waste management, including legacy waste remediation, focusing on swachhata.
Coverage:
The Fund will cover:
All cities with a population of 10 lakh or more (2025 estimates);
All State and Union Territory capitals not covered above; and
Major industrial cities with a population of 1 lakh or more.
Additionally, all ULBs in hilly States, North-Eastern States, and smaller ULBs with population below 1 lakh will be eligible for support under the Credit Repayment Guarantee Scheme. In principle all cities will be covered under UCF.
Reform-Linked Funding Framework:
Funding under the Urban Challenge Fund is anchored to a comprehensive reform agenda covering:
Governance and digital reforms;
Market and financial reforms to strengthen creditworthiness;
Operational reforms for improved service delivery and utility efficiency;
Urban planning and spatial reforms, including transit-oriented development and green infrastructure; and
Project-specific reforms with defined Key Performance Indicators (KPIs), third-party verification and sustainable Operation & Maintenance mechanisms.
Cabinet Approves Rs 10,000 Cr Startup India Fund 2.0
In a major boost to India’s growing startup ecosystem, the Union Cabinet, chaired by Prime Minister Narendra Modi, on Saturday approved the establishment of the Startup India Fund of Funds 2.0 (Startup India FoF 2.0) with a total corpus of Rs. 10,000 crore to mobilize venture capital for the country’s startups.
India’s Minister of Information and Broadcasting and Railways, Ashwini Vaishnaw, provided details about the cabinet decisions.
The scheme is designed to accelerate the next phase of India’s startup journey by mobilizing long-term domestic capital, strengthening the venture capital ecosystem, and supporting innovation-led entrepreneurship nationwide.
Launched under the Startup India initiative, Startup India FoF 2.0 builds on nearly a decade of sustained efforts to position India as one of the world’s leading startup nations. Since the launch of Startup India in 2016, the ecosystem has grown from fewer than 500 startups to over 2 lakh Department for Promotion of Industry and Internal Trade (DPIIT)-recognized startups, with 2025 marking the highest-ever annual startup registrations.
Building on Fund of Funds for Startups 1.0
The Startup India FoF 2.0 follows the strong performance of the Fund of Funds for Startups (FFS 1.0), launched in 2016 to address funding gaps and catalyze the domestic venture capital market.
Under FFS 1.0, the entire corpus of Rs. 10,000 crore was committed to 145 Alternative Investment Funds (AIFs). These AIFs have invested over Rs. 25,500 crore in more than 1,370 startups across sectors including agriculture, artificial intelligence, robotics, automotive, clean tech, consumer goods and services, e-commerce, education, fintech, food and beverages, healthcare, manufacturing, space tech, and biotechnology.
FFS 1.0 played a pivotal role in nurturing first-time founders, crowding in private capital, and establishing a strong foundation for India’s venture capital ecosystem.
Key Features of Startup India FoF 2.0
The new fund aims to take Indian innovation to the next level, with a targeted and segmented approach:
Deep tech and innovative manufacturing: Prioritizing breakthroughs in high-tech areas requiring long-term capital.
Empowering early-growth stage founders: Providing a safety net for new and innovative ideas to reduce early-stage failures.
National reach: Encouraging investment beyond major metros to foster innovation across the country.
Addressing high-risk capital gaps: Directing capital to priority areas important for self-reliance and economic growth.
Strengthening domestic venture capital: Supporting smaller funds to further boost the domestic investment landscape.
Startup India FoF 2.0 is expected to shape India’s economic trajectory, strengthen manufacturing capabilities, generate high-quality jobs, and position India as a global innovation hub.
Aligned with the national vision of Viksit Bharat @2047, the fund reflects the government’s continued commitment to empowering entrepreneurs, fostering innovation, and unlocking the full potential of India’s startup ecosystem.
Cabinet Approves Major Rail and Highway Projects Worth Over Rs. 48,000 Crore to Boost Connectivity
Cabinet Committee on Economic Affairs has approved three multitracking projects covering 12 districts across the states of Delhi, Haryana, Maharashtra and Karnataka, increasing the existing network of Indian Railways by about 389 kilometres. The total estimated cost of the projects is around 18,509 crore rupees and will be completed up to 2030-31. These projects include Kasara - Manmad 3rd and 4th line, Delhi - Ambala 3rd and 4th line, and Ballari - Hosapete 3rd and 4th line.
The projects will also generate direct employment for about 265 lakh human-days during construction. This initiative will improve travel convenience, reduce logistic cost, decrease oil imports and contribute to lower carbon dioxide emissions, supporting sustainable and efficient rail operations.
The projects are planned on PM-Gati Shakti National Master Plan with focus on enhancing multi-modal connectivity and logistic efficiency through integrated planning and stakeholder consultations. These projects will provide seamless connectivity for movement of people, goods, and services.
CCEA also approved construction of four-Lane Access-Controlled Greenfield connectivity from Assam’s Gohpur on NH-15 to Numaligarh on 715 section. This includes 15.79 kilometres of Road cum Rail Tunnel under River Brahmaputra. The project will be developed at a total capital cost of 18,662 crore rupees. It will enhance multi-modal integration by connecting with 11 Economic Nodes, three Social Nodes, two Tourist nodes and eight Logistic Nodes, providing enhanced connectivity with four major railway stations, two airports, and two inland waterways.
Upon completion, the project will play a pivotal role in strategic considerations, regional economic growth, strengthening connectivity between major economic centers and opening new avenues for trade and industrial development. The project will also generate approximately 80 Lakhs person-days of direct and indirect employment, and will open new avenues of growth, development and prosperity in surrounding regions.
The Government also gave its nod to Widening of National Highway-167 from Gudebellur to Mahabubnagar on the Hyderabad-Panaji Economic Corridor to 4-Lane Standard in Telangana with a total project length of 80.01 kilometres and total capital cost of 3175.08 crore rupees. The project will provide seamless connectivity to key economic, social, and logistics nodes across Telangana.
CCEA has also approved rehabilitation and upgradation of Ghoti - Trimbak (Mokhada) - Jawhar - Manor - Palghar section of NH-160A to two Lane /four Lane with a total capital cost of over 3320 crore rupees in Maharashtra.
The Government has approved upgradation of Dhamasiya-Bitada/ Movi and Nasarpore-Malotha Sections of National Highway-56 to Four-Lane Standard in Gujarat at a total capital cost of over 4583 crore rupees.
Cabinet Approves Noida Metro Extension With 8 Stations
The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved the extension of the Noida Metro Rail Project from Sector 142 to Botanical Garden (Noida). The corridor will cover a length of 11.56 km and feature 8 elevated stations. Upon operationalization, Noida and Greater Noida will have a total active Metro Rail network of 61.62 km.
Union Minister of Information and Broadcasting and Railways, Ashwini Vaishnaw, provided details about the cabinet decisions.
Benefits and Bolstering Growth
The new extension represents a significant advancement in the city’s infrastructure, marking a major expansion of the Metro Rail network and providing enhanced connectivity across key zones in Noida.
Enhanced Connectivity
The 11.56 km corridor will improve public transportation in Noida and provide direct links to high-demand corridors, including interchange points at Botanical Garden connecting the Blue Line and Magenta Line.
Key areas integrated through this extension include:
Commercial hubs:
Advant Business Park (Sec-142), Skymark One Mall (Sec-98), Mall of Noida (Sec-93)
MNCs and IT hubs:
Microsoft (Sec-145), TCS (Sec-157), Havells (Sec-126), Infosys (Sec-132), Cognizant (Sec-135), Adobe (Sec-132), Oracle (Sec-127)
Educational institutes:
Amity University (Sec-125), Panchsheel Balak Inter College (Sec-91), Mahamaya Balika Inter College (Sec-44)
Healthcare facilities:
Max Super Specialty Hospital (Sec-128)
Tourist attractions:
Botanical Garden, Sec-93 Park
By connecting these zones, the extension is expected to enhance mobility for residents and commuters, benefiting employment, business, education, and general transit.
Reduction in Traffic Congestion
The extension will offer an efficient alternative to road transport, alleviating traffic congestion in Noida and Greater Noida. Reduced road traffic will lead to smoother vehicle movement, shorter travel times, and improved road safety.
Environmental Benefits
The expanded metro network will help lower carbon emissions compared to fossil fuel-based transport, supporting the city’s environmental sustainability goals.
Economic Growth
Improved connectivity to key areas and transportation hubs, including Delhi’s airports, railway stations, and bus depots, will enhance productivity and stimulate local businesses. Areas near new metro stations are expected to attract investment and development, including previously less accessible regions.
Social Impact
The extension will provide equitable access to public transport for diverse socio-economic groups, reducing transport disparities and improving overall quality of life by cutting commute times and enhancing access to essential services.
The Noida Metro Rail extension from Sector 142 to Botanical Garden is set to be a transformative development for the city. It promises enhanced connectivity, reduced traffic congestion, environmental benefits, economic growth, and improved quality of life, laying a strong foundation for future urban expansion and sustainability.
India-AI Impact Summit 2026 Set To Begin
The India-AI Impact Summit 2026 is all set to begin at Bharat Mandapam in New Delhi on Monday. The five day Summit is the first-ever global AI summit to be hosted in the Global South.
World leaders from 20 nations are scheduled to attend the event. They include President of France Emmanuel Macron, Brazil President Luiz Inácio Lula da Silva, President of Spain, Pedro Sánchez Pérez-Castejón, President of Switzerland Guy Parmelin, Netherlands Prime Minister Dick Schoof, UAE’s Crown Prince of Abu Dhabi, Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Prime Minister of Mauritius Dr Navinchandra Ramgoolam, Sri Lanka President Anura Kumara Disanayaka, Vice President of Seychelles, Sebastien Pillay and Bhutanese Prime Minister Tshering Tobgay.
External Affairs Ministry said in a statement that leaders from Bolivia, Croatia, Estonia, Finland, Greece, Guyana, Kazakhstan, Liechtenstein, Serbia, and Slovakia, are also set to participate in the Summit.
Ministerial delegations from over 45 countries would be participating in the Summit. The UN Secretary General and Senior Officials from several International Organizations will also join the deliberations.
The India-AI Impact Summit 2026 is guided by three foundational pillars, or Sutras, which articulate the core principles guiding global cooperation on AI. These are - People, Planet and Progress. The Summit’s deliberations are organised through Chakras or Working Groups structured around seven interconnected thematic areas. The seven Chakras include Human Capital, Inclusion for Social Empowerment, Safe and Trusted AI, Science, Resilience, Innovation, and Efficiency, Democratizing AI Resources and AI for Economic Development and Social Good.
Over a hundred countries have been invited to the Summit and more than 2 lakh people have registered online. The India-AI Impact Summit 2026 strengthens India’s role as a key platform for shaping the global AI agenda.
The Summit positions India as a convenor and partner in global AI cooperation, supporting shared standards, collaborative frameworks, and scalable solutions for public good. It marks a transition from dialogue to delivery, reinforcing India’s commitment to responsible, inclusive, and development-focused AI pathways.
Jaishankar Holds High-level Meetings on Sidelines of Munich Security Conference 2026
External Affairs Minister Dr S Jaishankar on Sunday held a conversation with Chairman of Munich Security Conference, Wolfgang Ischinger in Germany.
In a social media post, Dr. Jaishankar said, the Munich Security Conference 2026 provided a good opportunity to present views and exchange perspectives.
Dr. Jaishankar also met his Romanian counterpart Oana-Silvia Țoiu on the sidelines of the Conference. Both Ministers reviewed India-Romania bilateral ties and agreed to realise its potential more fully.
The External Affairs Minister also held a meeting with leader of the Christian Democratic Union in the Bundestag, Jens Spahn and his team. He appreciated their support to the deepening India-Germany relations and also exchanged views on contemporary global developments.
Dr. Jaishankar met with CEO of APM Terminals, Keith Svendsen. He appreciated the commitment of Mr Svendsen to take forward maritime infrastructure and activities with India.
ECI Suspends 7 AEROs In West Bengal Over Multiple Allegations Of Irregularities
The Election Commission of India has suspended seven Assistant Electoral Registration Officers (AEROs) in West Bengal over multiple allegations of irregularities. Two from Canning Purba and one each from Suti, Maynaguri, Samsherganj, Debra, and Farakka constituencies are among those facing action.
The Commission has also directed that disciplinary proceedings should be initiated immediately against the suspended officers by the cadre controlling authority concerned without any delay and appraise the commission in this regard.
A letter in this regard was addressed to the state’s Chief Secretary. The letter clearly states that evidence has been found of serious misconduct, negligence of duty, and abuse of lawful authority by these officials involved in the SIR process.
Meanwhile, in compliance with the Supreme Court’s February 9 directive, the Election Commission has issued a stern message regarding the disposal of all Form-7 objections related to the SIR process.
In a separate letter to the state’s Chief Electoral Officer, it has been stated that all submitted Form-7s must be immediately forwarded to the relevant EROs and AEROs, and each objection must be resolved strictly according to law.