A dedicated Rs 1,000 crore fund and an urban renewal commission for the city are on the anvil. While the state government has already worked out a draft legislation to set up a dedicated fund, it is still working out the scope of the urban renewal commission. | |
| Speaking at the closing session of a conference on renewal strategies for Mumbai organised by Bombay First, state chief secretary R M Premkumar said the dedicated fund would be used to finance infrastructure projects in the city. |
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| "The idea is to ensure that the money allocated for these projects is not lost in general account but is reserved for the city's development." |
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| It will initially receive contributions from funding agencies such as Cidco and Hudco. |
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| Premkumar also said all future infrastructure projects for the city will be on a build-operate-transfer basis. |
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| The urban renewal commission would be "a mechanism to drive the government's vision for the city", he said. |
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