Next set of smart cities to be announced tomorrow

By: |
New Delhi | September 19, 2016 10:05 PM

The Centre will announce the next set of cities for financing under the Modi-government flagship Smart City Mission tomorrow.

Each city will receive Central assistance of Rs 200 crore in the first year and Rs 100 crore over the three subsequent financial years. (Reuters)Each city will receive Central assistance of Rs 200 crore in the first year and Rs 100 crore over the three subsequent financial years. (Reuters)

The Centre will announce the next set of cities for financing under the Modi-government flagship Smart City Mission tomorrow.

As per the Misison guidelines, as many as 40 cities have to be announced during this financial year. As the government had already announced 13 cities in May, a slot of 27 cities remains vacant against which the announcement would be made by Urban Development Minister M Venkaiah Naidu tomorrow.

In January, the government had announced a list of 20 cities for partial funding to be developed as smart cities which would have facilities such as assured water and power supply, sanitation and solid waste management systems, efficient urban mobility and public transportation, IT connectivity and e-governance, among others.

Each city will receive Central assistance of Rs 200 crore in the first year and Rs 100 crore over the three subsequent financial years.

State governments and respective urban local bodies will also match the Centre’s contribution.

The Modi-government aims to transform about 100 cities by 2019-20, with the Centre providing financial support of Rs 48,000 crore over five years.

Do you know What is India expected to grow 10 pc during current fiscal: NCAER Director General Poonam Gupt,FinMin releases Rs 9,871 cr grant to 17 state, Cash Reserve Ratio (CRR), Finance Bill, Fiscal Policy in India? FE Knowledge Desk explains each of these and more in detail at Financial Express Explained. Also get Live BSE/NSE Stock Prices, latest NAV of Mutual Funds, Best equity funds, Top Gainers, Top Losers on Financial Express. Don’t forget to try our free Income Tax Calculator tool.

Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates.

Next Stories
1India-UAE FTA talks: Duty relief likely for job-intensive sectors
2MGNREGS Outlay: Ministry seeks additional Rs 25,000 crore for rural jobs scheme
3Tracking kharif: As crops start arriving, most mandi prices rule below MSPs, may hit rural demand