Centre To Roll Out Plans For 2 Smart Cities This Fiscal – The Economic Times – 14-Nov-2014

November 15, 2014 - Uncategorized

 

The Centre is likely to roll out the final plans for at least two of its proposed 100 ‘smart cities’ along the Delhi Mumbai Industrial Corridor (DMIC) by the end of the current financial year, a senior government official said.

The Narendra Modi-led NDA government has decided to create industrial agglomeration along the proposed five industrial corridors including the DMIC, Bangalore-Mumbai Economic Corridor, Chennai-Vizag Corridor, Amritsar-Kolkata Industrial Development Corridor, Chennai-Bangalore and East-Coast Economic Corridor.

“The new government has put emphasis on developing physical infrastructure and growth in manufacturing sector. We have planned industrial agglomeration along the five proposed corridors to boost manufacturing along with catering to the demand of workers there for better living,” Department of Industrial Policy and Promotion (DIPP) additional secretary Shatrughna Singh told the media on the sidelines of FICCI Real EstateSummit in Mumbai on Thursday. Singh said the DMIC will have around 22 locations, which will be developed as smart cities.

“Out of the 22, seven places will be taken up in the first phase. To begin with, we have identified two places including Dholera in Gujarat and Shendra-Bidkin near Aurangabad in Maharashtra where we will see the actual ground work. In this fiscal, we can see some tendering happening by the respective governments for the development in these regions,” he said. Prime Minister Narendra Modi had earlier announced the government’s plans to develop 100 smart cities across the country that will provide modern amenities, education and employment opportunities.

The government has also decided to create a National Industrial Corridor Authority (NICA), which will cover all the corridors except the DMIC, to channelise institutional funding for smart cities. “We expect the authority to be formed in this fiscal itself,” Singh said.

The government is looking to create special purpose vehicle for every node in which central and state government themselves will also be equity partners. The equity stake could be offered to private firms and funding institutions, Singh said, adding that DIPP will look at development of smart cities while urban development department will handle redeveloping of exiting cities.

 

The Economic Times

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