The Ministry of Housing and Urban Affairs has decided to roll out the second phase of their ambitious project ‘Smart City Mission 2.0’ in 2020, to equip all the Indian cities with smart features and state of the art infrastructure. According to a government official, the second version will include all the 4000 cities across the country.
The official further said that this time the ministry is also looking for some alternative funding mechanisms like pool finance, fund of fund approach, bonds, fiscal money, monetization of unused land and tapping foreign capital.
Giving more information on the above, Kunal Kumar, joint secretary & mission director, Smart City Mission said, “This time, we will infuse a lot of private participation to instill capital in the planned and upcoming cities. Also, cities with improved fiscal strength will get a major portion of the central government grant,”
He further informed that the mission is expected to expand its focus on housing for all, build better infrastructure, and develop open spaces among other things.
“We will take up learning from the upcoming smart cities and imbibe it in across the country. Smart Cities are like hardware and hence there is a huge impetus on data mining,” added Kumar.
The second phase of the mission will rate infrastructure projects under five parameters — planning, technology, governance, services, and finance, along with climate-sensitive action and ease of living sensitive action.
At present, the smart city mission project work is going on in 100 selected cities. Recently, to expedite the development work, the UP government has announced to provide Rs 50 crore fund to seven municipal corporations of the state for the next five years under the smart city project.