What is Smart City? The Centre’s ‘Smart City’ definition focuses on the following: Turning cities into livable spaces will mainly focus on cleanliness and 24-hour water supply, treatment of sewage, solid waste management, strong public transport system, affordable housing for all, Internet connectivity and easy and safe mobility for citizens.
The process of selecting 100 Indian cities under the project has been completed. These cities have to send proposals to the Centre, which is yet to finalise the top 20 to be developed first.
After identifying the cities for Phase I, both Central and State governments will annually fund Rs 100 crore each to the respective municipal corporations. A total of Rs 1,000 crore will be sanctioned during the five-year period. Over time, the corporations will have to undertake various projects under the Public Private Partnership (PPP) model.
A company will have to be set up for realising the various Smart City projects with a Chief Executive Officer who will monitor the market and attract investment
For the Smart City project, a budget of Rs 50,000 crore will be utilised for 476 cities that have a population of over 1 lakh