Venkaiah Naidu meets top US firms, explains new schemes like Smart Cities, Housing for All by 2022

Q: Last week, the government announced 3 flagship project - Smart Cities, Housing for All by 2022 and the Atal Mission for Rejuvenation and Urban Transformation that aim to change the face of urban India.

Dwarkesh,

3rd July 2015

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housing for all by 2022

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Replies (6)

Hi all,
I am quite sure that this upgradation will help these regions to fulfil the basic needs for real estate to perform and succeed in the long run.

For all the projects approved, the government will contribute 50% of the funds with an equivalent amount to be organized by the states themselves. This makeover of infrastructure in 272 cities and towns will duly fuel and introduce a fresh wave of realty demand in near future.

Rakshit, Mumbai

3rd December 2015

Comment

I hope that our country will be in better shape and compete the other developed nation. Govt's intention is clear and both state and central governments will together invest about Rs 11654 crore to make available 135 litres of clean drinking water per person each day and provide sewerage linkages in all the 272 cities. What more we can expect from a one and half year old govt.

Vikash V, Ahmedabad

3rd December 2015

@Vikash,
It really sound good. And for the growth of civic infrastructure, centre has also approved investments worth about Rs 2386 crore towards water supply projects in 58 cities, Rs 495 crore for sewerage projects in 17 cities, Rs 106 crore for storm water drains in 9 cities, Rs 61 crore for urban transport in 9 cities and Rs 72 crore for development of parks and green spaces in 102 cities during this financial year.

Rakshit, Mumbai

3rd December 2015

Hi everybody,
Centre has finally begun with efforts by clearing proposals worth Rs 11654 crore that are aimed towards improving basic infrastructure and facilities in 272 cities and towns, which include investments worth Rs 3120 crore in 102 cities and towns under the Atal Mission for Rejuvenation and Urban Transformation (AMRUT) plan for Smart India Mission.

Jignesh Kumar, Bangalore

3rd December 2015

Comment

Right Jignesh,
This move will gradually help shape the future demand for housing and office spaces thereby increasing its prospects of being accepted by the potential customers.

The government has given a green signal for Rs 438 crore investment in 18 cities identified in Haryana during the next fiscal year. Likewise, 9 cities in Chhattisgarh would get Rs 573 crore and a sum of Rs 416 crore has been assigned for 12 cities in Telangana and Rs 588 crore for 9 cities in Kerala. The largest chunk of funds is being earmarked for West Bengal with a sum of Rs 1105 crore meant for 54 cities and towns across the state.

Vikash V, Ahmedabad

3rd December 2015

@Vikash,
With this move, the mission of Housing For All will also gain a much needed boost once infrastructure in regions get corrected and private developers also start picking pace.

Understanding the direct co-relation between infrastructure and demand in realty sector, the Central Government has given complete freedom and flexibility to State Governments to design and execute basic infrastructure facilities.

Jignesh Kumar, Bangalore

3rd December 2015

Yes, to get appropriate result, govt. should support those cities or state first. Government grants will be leveraged to attract funding from internal and external sources but unless there is a possible business model or guarantee from the center, this would not be easy.

Also, the track record of Public Private Partnership projects is at best mixed and when there would be multiple parties associated like the center, states, local bodies and private entities, the task would be even more challenging.

Deepankar Godbole, Mumbai

18th September 2015

Comment

Hi folks!!!!
We all know that the government has recently identified 98 cities for the Smart City Project. And fund for 20 cities have been distributed. But funding for these projects and its execution will be a major challenge for companies. There is no doubt that this mission is expected to improve the quality of life for citizens of these cities. For government, the focus is on sustainable and inclusive development and the idea is to look at intensive areas and create a exemplary model. if you are agree with my view point then give ur valuable input

V. Victor,

18th September 2015

Comment

Yes, it would be better if the Govt's focus on smaller number of cities first and then developing them as model for others going forward. Present Govt. has already started so many programme in 2015. Now it is time to complete those project in proper manner.

Under this mission, center will give financial support to the limit of Rs 48000 crore over 5 yrs, which is on an average Rs 1000 crore per city per year. And an equal amount, on a matching basis, will have to be contributed by the state and urban local bodies if required.

Sneha Ambedkar, Pune

18th September 2015

Right Sneha......
All those launched programmes need to be implemented successfully ......."Thoda Khaye But Achcha Khaye" .....Govt. should think over this policy first....

If we look at the list of cities which have been selected as smart city, many of them would already have annual municipal budgets running into multiple times of this figure. On the other hand, there are few states which have shown doubt for implementing the scheme and if there is not enough support from them in terms of funding and administrative help, it would be difficult to take this scheme to its reasonable result.

V. Victor,

18th September 2015

Hi Dhiraj & Suresh,
But we should not over look the urgent need to provide all citizens with access to basic necessities such as sanitation, water, power and means to earning a livelihood. Reforms in taxation and land acquisition remain central to the success of these schemes.

Ravindra Singh,

3rd July 2015

Comment

I accept Ravindra. Noting that India has prioritized the creation of 100 smart cities, which will include the use of solar energy, rain water harvesting, good sanitation, drinking water and smart public transportation.
We can not forget that under the leadership of Modi Govt., public life in India is undergoing a rapid transformation. The economy is back on track, inflation is under control, and growth rate is likely to cross 8% in the coming years.

Dhiraj,

3rd July 2015

Right Dhiraj,
This could be one of the reason that American enterprise is eager to participate and deepen its commercial dialogue through the 100 Smart Cities. In Venkaiah Naidu as Parliamentarian, investors are confident that, under Minister Naidu's leadership, the monsoon session of the Parliament will continue progress toward economic and regulatory reforms that are key to India's economic progress.

Ravindra Singh,

3rd July 2015

@Ravindra,
Naidu insisted on the human face of reforms such as social security schemes and affordable housing. He also wished investors to take advantage of the business friendly atmosphere in the country, inviting further cooperation in Smart Cities and Atal Mission for Rejuvenation and Urban Transformation (AMRUT) projects.

Dhiraj,

3rd July 2015

True Dwarkesh,
In US, Naidu communicate with senior leaders from business groups such as iTECH, IBM, Honeywell, Genworth, UTC, AECOM, Apple, AT&T, Dell, Qualcomm, Cognizant, Capital Novus, Moody's, and Bank of America. They also discuss on the opportunities coming out from the recently launched schemes.

Suresh,

3rd July 2015

Comment

Definitely a good start by the government. And these schemes will likely to have a significant impact on India's urban development over the next few years. There are huge opportunities for innovation in India's digital space. Smart cities will be the transformation India has been waiting for. Healthcare is at the bond of this new digital economy that can expand the reach of quality care.

Dhiraj,

3rd July 2015