Central Government provides financial support of Rs. 48,000 crore (US$ 6 billion) for Smart Cities Mission over five years
- Press Information Bureau
- July 19, 2022
On June 25, 2015, the Government officially announced the commencement of the Smart Cities Mission. In four competition rounds from January 2016-June 2018, 100 smart cities were chosen. According to the mission's rules, the Central Government will contribute Rs. 48,000 crore (US$ 6 billion) in funding over the course of five years to assist the mission's implementation, or an average of Rs. 100 crore (US$ 12.5 million) per year for each city. The state government or urban local authorities will contribute a sum equal to this amount.
As of July 8, the Central Government has distributed Rs. 30,751.41 crore (US$ 3.84 billion) for 100 smart cities, of which 90%, or Rs. 27,610.34 crore (US$ 3.45 billion), has already been spent.
By June 2023, the Smart Cities Mission will be fully implemented, and all smart cities are expected to finish their initiatives by that date.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
Partners
