Urban Development Minister Venkaiah Naidu on Thursday urged local and international investors to put their money on the Smart City Mission, assuring them that it was a safe bet.
Mr. Naidu unveiled a list of 98 cities with Uttar Pradesh taking the largest share of developing 13 smart cities followed by Tamil Nadu, which qualified to develop 12.
“Both national and international investors are looking for opportunities in the backdrop of the recent financial crisis,” said Mr. Naidu.
“People are searching for safe investments. I offer smart cities as the safest investment because land is going to be there, structures are going to be there, so the returns are assured,” he said.
With an aim to achieve “inclusive growth”, the Smart City Mission promotes integrated city planning, where the government’s policies such as Swachh Bharat Mission and Atal Mission for Rejuvenation and Urban Transformation complement each other.
Taking a tough stance over the delay of project approvals at the State-level, Mr. Naidu said the new parameters set by the Ministry have created a “perform or perish” situation where municipal councils “cannot afford to miss this opportunity of recasting the country’s urban landscape”. The Ministry will impose fines on States that violate the timeline of 60 days of finalising the projects.
“I held three consultations with the Ministry of Civil Aviation, Defence Ministry and the Ministry of Environment,” Mr. Naidu said.
