World
India
Prime Minister Narendra Modi launched the Smart Cities Mission on June 25, 2015, and as it nears its 10th year, the initiative has marked significant progress in urban development. The State Bank of India (SBI) reported that authorities have completed more than 90 percent of the projects under the mission. They are implementing over 8,000 multi-sectoral projects worth around Rs 1.64 lakh crore across 100 cities. Of these, they have already finished 7,504 projects, amounting to Rs 1.50 lakh crore, showcasing impressive progress in transforming India’s urban landscape.
Key Achievements Of the Smart Cities Mission
The SBI report highlights the rapid strides made under the Smart Cities Mission. The mission’s main focus has been to improve urban mobility and enhance water and sanitation infrastructure. Nearly 50 per cent of the total project cost has been spent on these two sectors, covering more than 3,000 projects. On average, each project has received around Rs 22 crore in funding, contributing to the transformation of urban landscapes across the country.
Major Financial Investment In Urban Development
The report also notes that out of the Rs 1.64 lakh crore invested in these projects, about 92 per cent of the funds have been spent across 21 major states. Uttar Pradesh, Tamil Nadu, and Maharashtra accounted for nearly one-third of the total expenditure. The initiative has focused on improving urban infrastructure and creating a sustainable environment in cities, benefiting millions of citizens.
Funding And Partnerships Fuel the Mission’s Success
The government operates the Smart Cities Mission as a Centrally Sponsored Scheme. It committed Rs 48,000 crore over five years, allocating an average of Rs 100 crore per year to each city. State governments and urban local bodies (ULBs) matched these central funds. They also raised additional funds through convergence with other government programs, ULBs’ own resources, municipal bonds, Finance Commission grants, and various innovative financial mechanisms.
Transforming India’s Urban Landscape
As the Smart Cities Mission nears its 10th anniversary, it reflects the government’s commitment to transforming India’s urban centers. The completion rate and the scale of implementation stand as a testament to the mission’s success, driving the modernization of urban infrastructure and significantly improving the quality of life for citizens.
(With Inputs From ANI)
Also Read: Google Hit with Massive Rs. 20.24 Crore Fine After Major Android TV Antitrust Scandal in India!
