Naidu: Smart cities to attract over Rs.2 L cr in the next five years

Housing and Urban Development Venkaiah Naidu said a minimum investment of Rs.2 lakh crore is likely to flow in next five years for development of urban areas across the country and nearly half of the amount will come in from state and local bodies.

“The smart cities are the flavour of the season. To make smart cities you need smart leadership,” he said while delivering the keynote address at a session of ‘National Leadership Conclave’ organised by the All India Management Association, in New Delhi on Thursday.

The Union Cabinet on Wednesday approved the Government’s flagship 100 smart cities project and the new urban renewal mission with a total outlay of about Rs.1 lakh crore.

“A minimum investment of over Rs.2 lakh crore would flow into urban areas over the next five years since states and local bodies would mobilise matching resources ranging from 50-66 per cent,” Naidu said. He said the initiative would help make the urban life comfortable given the large-scale migration taking place from rural areas.

“Urbanisation is a reality and you can’t reverse it.People are migrating from rural areas because of five needs, education, entertainment, employment, economic opportunities and enhanced healthcare, which are mostly concentrated in urban areas. So we have to make urban life comfortable and liveable and useful to people…,” Naidu said.

Urban areas have issues like pollution, congestions, encroachments and urban governance is in a mess. “We have to think in terms of rejuvenation of our urban areas and bring back the governance,” he added.

Smart cities intend to promote adoption of smart solutions for efficient use of assets, resources and infrastructure with the objective of enhancing the urban life and providing a clean and sustainable environment, he said.