India is witnessing rapid pace of urbanisation. The need for measures to make our cities more liveable has been felt badly in the past decade. The investment required to improve urban infrastructure and service delivery in India in the coming years is huge.
According to the 2011 ‘Report on Indian Urban Infrastructure and Services’, the aggregate investment (for providing eight basic services) up to 2031 would be to the order of ‘39.2 lakh crore. Recognising this need, successive governments have rolled out urban renewal programmes with large budget outlays. The erstwhile Jawaharlal Nehru National Urban Renewal Mission (JnNURM), the 100 Smart Cities Mission, and the Atal Mission for Rejuvenation and Urban Transformation (AMRUT) are all schemes aimed at improving India’s urban centres on a mission mode. In addition, the government is giving a huge impetus to alternative innovative sources of funding through public-private partnerships for infrastructure development, municipal bonds and so on.
Read more at :http://www.governancenow.com/news/regular-story/making-smart-cities-financially-smart