1. GIFT City model can be emulated for creating 100 smart cities: Arun Jaitley

GIFT City model can be emulated for creating 100 smart cities: Arun Jaitley

The project was first conceptualised by Narendra Modi when he was the chief minister of Gujarat.

By: | Updated: April 11, 2015 12:00 PM
Arun Jaitely, GIFT, GIFT City Model, smart cities, GIFT City model smart cities, arun jaitley on GIFT City model, arun jaitley on smart cities, narendra Modi, Gujarat Model, IFSC, UPA, business news, economy news

Arun Jaitley also took a jibe at the previous United Progressive Alliance (UPA) regime and held it responsible for not expediting a project like GIFT city. (PTI/AP)

Describing Gujarat International Finance Tec-city (GIFT City) as a “miracle”, Union finance minister Arun Jaitley on Friday tried to hard-sell the project — originally designed for developing financial services in Gujarat — as a “role model” for the development of future smart cities in India.

The project, first conceptualised by Prime Minister Narendra Modi when he was the chief minister of Gujarat, got a huge boost on Friday when Jaitley unveiled the “regulations and guidelines” for setting up the country’s first International Financial Services Centre (IFSC) within the special economic zone area of the GIFT City in Gandhinagar.

“Use land as a resource, use FSI (floor space index) available on this land as capital and the entire investment made in creating initial infrastructure can be recovered when you start getting the development charges. So eventually, you created a city without costing anything to the public exchequer and eventually it will become a city that will give returns both to the centre and state governments,” Jaitley said while emphasising how the model of GIFT City could be “emulated” for creating 100 smart cities in India.

Arun Jaitley also took a jibe at the previous United Progressive Alliance (UPA) regime and held it responsible for not expediting a project like GIFT city. “Even though you got your SEZ status in 2011, you had to wait for a change in government in New Delhi before the GIFT city could get it’s relevant push … ,” he said.

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  1. V
    varun
    Apr 11, 2015 at 9:39 pm
    and since last 10 years only 2 buildings are standing while remaining 98 still waiting for NEAVE to be digged with zero occupancy level
    Reply
    1. S
      Sadasivan
      Apr 11, 2015 at 7:00 pm
      Smart "OPEN TOILETS" are the need of the hour for the poor and Homeless, of India
      Reply
      1. S
        Sadasivan
        Apr 11, 2015 at 3:05 pm
        G 20's orders for "No law for bankers" and technocracy.
        Reply
        1. S
          Sadasivan
          Apr 11, 2015 at 3:04 pm
          The "financial SEZ" is clone of the City of London.With loss of revenue and "No Law for bankers' here[ the city Of London, reportedly,has a positive bias for bankers in legal matters]. The introduction of the dangerous Muni Bonds,which can bankrupt India's Munilities and the "financial SEZ " at the same time is a cause for concern.The bankers in Milan case for Muni Bonds chose the city Of London for jurisdiction and seem to have won. Copying the failed policies of the developed economies immersing india in Debt is the sure and tested way tlo bankruptcy,as shown by the developed economies. smart Cities,AAdhaar etc are for technocracy of the one World Totalitarian government and hence against the common folk. Before thinking about smart cities the open toilets near railway stations like,the ones in, Mumbai should be done away with. Please google for;- 1.City Of London 2.dangers of muni bonds 3.Technocracy for one World Totalitarian government
          Reply
          1. T
            t p
            Apr 12, 2015 at 9:47 am
            New city centre with modern facilities like malls, wi-fi services, educationa centres, hospitals, .....etc , near every existing city with potion greater than 10 lacs be established, so that many problems such as road blockages, monopoly of few at prime locations, pollution, crimes.......... etc be reduced/controlled. Identical names be given all over India like: new city centre Raisen, new city centre Jagdishpur, new city centre Bhopal, new city centre Gwalior, new city centre Meerut, new city centre Jagdalpur, new city centre See......etc.
            Reply
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