Cabinet nod for smart cities

Published on April 30, 2015 01:58:04 AM
Business
The Union Cabinet chaired by Prime Minister Narendra Modi has approved Central government spending of about Rs1 lakh crore on urban development under two new urban missions over the next five years, Ministry of Urban Development said in a statement on Wednesday.

The Cabinet has approved the Smart Cities Mission and the Atal Mission for Rejuvenation and Urban Transformation of 500 cities (AMRUT) with outlays of Rs 48,000 crore and Rs 50,000 crore respectively. Under the Smart Cities Mission, each selected city would get central assistance of Rs 100 crore per year for five years.

Smart City aspirants will be selected through a ‘City Challenge Competition’ intended to link financing with the ability of the cities to perform to achieve the mission objectives. Each State will shortlist a certain number of smart city aspirants as per the norms to be indicated and they will prepare smart city proposals for further evaluation for extending Central support, the statement said.