Smart City Mission 2.0 likely in 2020
After first Smart Cities Mission for 100 cities, the government will expand the Smart Cities Mission to all 4,000 cities in the country. The ministry of housing and urban affairs (MoHUA), the nodal department for Smart City Mission, is set to roll out smart city 2.0 mission in 2020. The central government’s second version of the smart city initiative will be rolled out across the country, said a government official.
The ministry of housing and urban affairs (MoHUA) is also looking at alternative funding mechanisms such as pool finance, fund of fund approach, bonds, fiscal money, monetisation of unused land and tapping foreign capital.
The mission has started rating the existing projects under five parameters - planning, technology, governance, services and finance, along with climate sensitive action and ease of living sensitive action. So far, about 10% of the planned projects have been completed in the past three years.
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