State Govt. Directed PCMC to Form a SPV for Implementing Smart Cities Mission

The Pimpri Chinchwad Municipal Corporation has been directed by the state government to immediately form a Special Purpose Vehicle for implementing the Smart Cities Mission Projects.

» Read more

Smart Cities need the formation of SPV before March 31

Special Purpose Vehicle Smart City

The union government has asked all the selected 20 smart cities for the first phase of the smart cities mission to form Special Purpose Vehicle (SPV). And the Formation of SPV before March 31 is necessary to get funds sanctioned for the project from the Union government.

It is said that about 15.2 millions people has involved in planning India’s smart cities. And the statement was said to be released by Union Minister for Urban Development Venkaiah Naidu.

All the smart cities will have solar, LEDs and rainwater harvesting. All these will be made mandatory,” he said. The use of information communications technology (ICT) would also be compulsory for all the smart cities and that would enable better, integrated governance, Naidu said.

Given rapid urbanisation in India, the pressure on cities is set to increase. He laid out four focus areas for the government, which included improving the quality of life in cities, increasing employment opportunities, ensuring better urban governance and making urban areas better prepared for the effects of climate change.