Indian Economy News

More than Rs. 18 lakh crore (US$ 216.26 billion) invested since 2014 in the transformation of our cities and towns: Housing & Urban Affairs Minister, Mr. Hardeep S Puri

Union Minister of Housing & Urban Affairs and Petroleum & Natural Gas, Mr. Hardeep S Puri said “It is not enough to think in terms of traditional infrastructure creation. That was a thing of the past. Instead, let us look to the future and focus on creating a holistic ecosystem for ensuring last-mile access to services; enhanced operational efficiencies; and integration of digital technology”, in his address at the National Workshop on Capacity Building of Urban Local Bodies.

The Union Minister said,” To achieve these outcomes, we need to increase our capabilities – individually, organisationally, and institutionally. That is the aim of this workshop”.

He emphasised the goal of the capacity-building session, saying that it is our hope to provide a consistent approach to capacity-building for all Urban Local Bodies (ULBs) around the nation through this session. "Urban Development was neglected, with only Rs. 1.78 lakh crore (US$ 21.38 billion) invested in urban areas between 2004 and 2014. In comparison, more than Rs. 18 lakh crore (US$ 216.26 billion) has been invested in the transformation of our cities and towns since 2014," Puri remarked.

"While the 13th Finance Commission granted Rs. 23,111 crore (US$ 2.77 billion) to ULBs between the years 2010–11 to 2014–2015, the 15th Finance Commission has seen a six-fold increase to Rs. 1,55,628 crore (US$ 18.69 billion) between 2021–22 to 2025–26," he continued.

The Minister stated that the government has pushed cities to go to the marketplace to raise capital investment under the AMRUT mission. Municipal bonds have helped twelve cities raise more than Rs. 4,384 crore (US$ 526.71 million). According to him, such efforts have boosted ULB's creditworthiness and made them appealing investment destinations.

Mr. Hardeep Singh Puri, speaking on the government's emphasis on urban planning reforms, stated that money had been provided directly to state governments to conduct urban planning reforms.

He said, “Reforms such as "transit-oriented development, the adoption of transferable development rights, the modernization of building bye laws, the integration of blue and green infrastructure through nature-based solutions, affordable housing through in-situ rehabilitation, increased capacity building and recruitment, GIS-based master planning, and Online Building Permission Systems (OBPS) have been prioritised”.

More than 250 officials, including Municipal Commissioners, senior officials from Urban Local Bodies, State Government, knowledge and industry partners, faculty from Training Institutes, and representatives from MoHUA and CBC, attended the event. The event saw fruitful interactions and discussions that highlighted the importance of implementing new skills within ULBs and making continual enhancements.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.