 "Projects of $7 bn on the offer in round one of Smart Cities")
The Indian urban juggernaut has begun rolling showcasing projects worth $ 7 billion as its first offering in the twenty lighthouse cities that have made it to the first round. The government is set to announce another 13 to 14 cities very soon taking the total to 34 that will be financed in the first round under the Smart City Mission, a flagship initiative of the government of India.
“We will announce the next set of cities in one or two days and these will be included in the first set of cities that will receive the first tranche of funding,” said Venkaiah Naidu, Minister for Urban Development, Housing & Urban Poverty Alleviation and Parliamentary Affairs, yesterday at the CII Smart City Investors Meet in New Delhi.
Emphasising on the role of the private sector in the development of smart cities and urbanising India, Naidu said that there is an urgent need to involve the private sector and bring in their expertise and technology to meet the aspirations of the citizens in these cities.
The global interest in India’s smart city mission was on display in the investors’ meet which was attended by ambassadors of the US, Japan, South Korea, Spain and the High Commissioner of UK among others. The day long convention brought together diverse stakeholders from solution providers to city corporate’s, policy makers and foreign investors.
Elaborating on the new and innovate financing means that cities will be adapting, Venkaiah Naidu said that cities are looking at monetising land assets, introduction of user charges and tax incentive financing. “Citizens have paid and are willing to pay user charges as long as they get assured and quality services and this would be the biggest ask from the service and solution providers.”
According to Ravi Parthasarathy, chairman CII Smart City Mission, smart cities have emerged as new nodes of growth, a fact that resonates with both local & global constituencies in contemporary times.
“We will announce the next set of cities in one or two days and these will be included in the first set of cities that will receive the first tranche of funding,” said Venkaiah Naidu, Minister for Urban Development, Housing & Urban Poverty Alleviation and Parliamentary Affairs, yesterday at the CII Smart City Investors Meet in New Delhi.
Emphasising on the role of the private sector in the development of smart cities and urbanising India, Naidu said that there is an urgent need to involve the private sector and bring in their expertise and technology to meet the aspirations of the citizens in these cities.
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Elaborating on the new and innovate financing means that cities will be adapting, Venkaiah Naidu said that cities are looking at monetising land assets, introduction of user charges and tax incentive financing. “Citizens have paid and are willing to pay user charges as long as they get assured and quality services and this would be the biggest ask from the service and solution providers.”
According to Ravi Parthasarathy, chairman CII Smart City Mission, smart cities have emerged as new nodes of growth, a fact that resonates with both local & global constituencies in contemporary times.