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Smart Cities of India- Mission 2022
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Prime Minister Narendra Modi, launched Smart Cities Mission on June 25, 2015, with the aim of developing cities in the country that are both citizen friendly and sustainable. ission 2022 as it is otherwise called, is an urban renewal and retrofitting program by the Government of India.
mart Cities is a five-year program initiated by the Union Ministry of Urban Development in collaboration with state governments of the nominated 100 cities. All states and Union territories of India have nominated at least one of their respective cities for this program with the lone exception of Bengal. All these cities will receive financial and other aid from central and state governments beginning 2017. The rate of success of the entire program will be mapped from 2022 onwards.
A significant component of mart Cities mission is Prime Minister Narendra Modi vision of ousing for All 2022 It is an endeavor to promote high economic growth with urban areas playing a major role. Over the next seven years, cities will be developed and would be further boosted by the construction of over two crore houses under PMAY housing- for-all scheme. A emorandum of Agreement with the Ministry of Housing and Urban Poverty Alleviation has been signed by almost all states and Union territories.
Under PMAY Urban, almost all the states have signed to implement six mandatory reforms required for successful implementation of the mission. 2.54 lac houses have been sanctioned under this program and would cater to the needs of lower income group LIG and economically weaker sections EWS in 98 cities in Andhra Pradesh, Chhattisgarh, Gujarat, Rajasthan, Tamil Nadu and Telangana.
mart Cities and radhan Mantri Awas Yojana work on a ottom-up model of city development, meaning that planning and development begins from grass root levels and moves up. With India urban population set to rise by more than 400 million people and touch approximately 814 million by 2050, mart Cities initiative comes as a breath of fresh air to the urban landscape.
With an eye on affordable housing and sustained infrastructure growth, Finance Minister Mr. Arun Jaitley allocated Rs. 2.04 lac crore towards the Smart Cities program in Union Budget 2018.
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Disclaimer: The information contained in this post is for general information purposes only. IIFL Home Finance Limited (including its associates and affiliates) ("the Company") assumes no liability or responsibility for any errors or omissions in the contents of this post and under no circumstances shall the Company be liable for any damage, loss, injury or disappointment, etc. suffered by any reader. All information in this post is provided "as is", with no guarantee of completeness, accuracy, timeliness, or of the results, etc. obtained from the use of this information, and without warranty of any kind, express or implied, including, but not limited to warranties of performance, merchantability, and fitness for a particular purpose. Given the changing nature of laws, rules, and regulations, there may be delays, omissions, or inaccuracies in the information contained in this post. The information on this post is provided with the understanding that the Company is not herein engaged in rendering legal, accounting, tax, or other professional advice and services. As such, it should not be used as a substitute for consultation with professional accounting, tax, legal or other competent advisers. This post may contain views and opinions which are those of the authors and do not necessarily reflect the official policy or position of any other agency or organization. This post may also contain links to external websites that are not provided or maintained by or in any way affiliated with the Company and the Company does not guarantee the accuracy, relevance, timeliness, or completeness of any information on these external websites. Any/ all (Home/ Loan Against Property/ Secured Business Loan/ Balance Transfer/ Home Improvement Loan/ NRI Home Loan/ Home Loan for Uniformed Services) loan product specifications and information that may be stated in this post are subject to change from time to time, readers are advised to reach out to the Company for current specifications of the said (Home/ Loan Against Property/ Secured Business Loan/ Balance Transfer/ Home Improvement Loan/ NRI Home Loan/ Home Loan for Uniformed Services) loan.
