This report was put together at the request of the 15th Finance Commission to address two questions in the wake of the COVID-19 pandemic. First, the potential of new greenfield towns and cities to assist in economic recovery. Second, defining a package of strategic measures and priorities at national, state and regional levels to enable the process of urbanisation to accelerate post-COVID economic recovery, including a broad-brush financial envelope for these investments over the 2021–31 period. The report’s recommendations hinge on strategic choices that prioritise prudent investments addressing inequality between and within states and strengthen regional linkages.