The cities selected have started project preparations and implementation. Smart city mission has given 2017- 2022 time frame for the implementation of the area development plan submitted during the smart city challenge. As part of the plans submitted by the selected cities only a small part of the city will be developed by the Special purpose vehicle(city specific company) and it will become a model for replication by other parts of the city.
The idea behind smart city mission is to develop a small area in the city to such a high level that - other parts of the city, media and opposition parties become envy of that and will put pressure on the city council, local government officials, public servants and mayor to upgrade living standard of their part of the city to standard set by the areas upgraded through smart city mission. This will also have rub off effect on the other nearby towns and cities. The city will be selected only on the basis of the city's commitment, city's implementation track record and the commitment extended by the state government regarding funding the transformation, assessed through national level smart cities challenge.
Each city has to start a public sector company with the shareholding of state government, central government, city council and the private sector. This company is responsible of for raising the money from the debt and equity market along with utilising the grant and aid provided by the state and central governments.
If a city selected for the smart city mision does not meet the timeline and speed set by the urban development ministry of the modi government, it will lose the future financial support and a new city will be replaced in its place to be developed as smart city.
16 smart cities have made preparations list their Municipal Bonds in stock markets as civic bodies across the country clamor to raise funds in a hot race to stay ahead of peers in India’s smart cities sweepstakes. Pune’s Rs 200-crore municipal bonds issue was listed in BSE on June 22. Another 15 smart cities have already appointed transactional advisers and will hit the market soon on lines of Pune. Some of the cities include Jaipur, Jabalpur, Ahmedabad, Visakhapatnam, Indore, NDMC, Kakinada, Udaipur, Bhopal, Warangal, Kota, Bhiwadi, Kishangarh, Greater Hyderabad Municipal Corporation (GHMC) and Panaji.
All the selected cities have created the SPV as a public sector company to implement the smart city mission in their city. City council in those city's have delegated many of their rights to this SPV.
Some of the developments reported in the media are
The projects that have been launched by Ahmedabad are "sewage treatment plant, housing project and smart learning in municipal schools".Bhubaneswar launched "railway multi-modal hub, traffic signalisation project and urban knowledge centre".New Delhi Municipal Council launched "mini-sewerage treatment plants, 444 smart class rooms, WiFi, smart LED streetlights, city surveillance, command and control centre".
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