Projects worth over Rs 2.05 lakh crore are proposed in 100 cities under the Smart Cities Mission and a significant progress has been made in terms of implementation of these projects, the Economic Survey 2018-19 said.
The Smart Cities Mission (SCM), which was launched in June 2015 for a five-year period, seeks to promote cities that provide core infrastructure and give a decent quality of life to its citizens.
The strategic components of this mission are area-based development involving city improvement (retrofitting), city renewal (redevelopment), city extension (greenfield development) and a Pan-city development in which smart solutions are applied covering larger parts of the city.
"The 100 cities under the mission have proposed to execute 5,151 projects worth 2,05,018 crore in five years from their respective dates of selection.
"Financial innovation is in-built in the design of the programme. The distribution of funding from the central and state government is Rs 93,552 crore (45 per cent) and funds from PPP is Rs 41,022 crore (21 per cent)," the survey said.
On implementation status, the survey said that all the 100 cities have incorporated Special Purpose Vehicles (SPVs), City Level Advisory Forums (CLAFs) and appointed Project Management Consultants (PMCs).
Significant progress has been made with respect to implementation of projects pertaining to integrated command and control centres, smart roads, smart water, solar rooftops, and vibrant public spaces, it added.
The survey termed housing as one of the fastest moving sectors in the country.
According to Census 2011, 377.1 million Indians comprising 31.14 per cent of the country's population lived in urban areas, which are projected to grow more than 600 million by 2031.
Stating that the Real Estate (Regulation and Development) Act (RERA) is one of the major reform in real estate sector, the survey said rules under RERA has been notified by 30 states UTs and 28 States/UTs have set up the regulatory authorities.
North Eastern States (Arunachal Pradesh, Meghalaya, Nagaland and Sikkim) are under process to notify the rules under RERA. Though, RERA was not applicable in Jammu & Kashmir, the state has notified its own legislation named as The Jammu and Kashmir Real Estate (Regulation and Development) Act, 2018'.
On Pradhan Mantri Awas Yojana (Urban), the survey said this scheme was launched in June 2015 with the objective of providing housing facilities to all the eligible families or beneficiaries by 2022.
So far 4,427 cities or towns have been included under PMAY(U). The duration of the mission is seven years (2015-16 to 2021-22) and has four components: Insitu Slum Redevelopment, credit linked subsidy scheme, affordable housing in partnership with public or private sector and beneficiary-led individual house construction or enhancements.
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