Only 10 smart cities may get funds from Centre this year

Thu, 2015-12-10 17:29 -- SCC India Staff

The National Democratic Alliance government is getting ready to scale down the size and speed of its signature Smart City Mission, if the need arises. Not keen to delay
the project, the Centre may fund only 10 cities, instead of the proposed 20, in the first year, if proposals don’t match quality yardsticks.

The idea is to not slip on the target date (January 26) for announcing the first list of smart cities, a segment that could mean a long-term opportunity of $50 billion in India.

December 15 is the cut-off date to be eligible for the Centre’s funds. If states submit “inadequate or incomplete” area development plans to the urban development ministry by then, the number of cities to be picked up for the first round would be lower, a source in the government told Business Standard. “The government is sure of at least 10 quality proposals, though it would like to start with 20,the source said.

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Source : Business Standard