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Fund released by Centre under Smart Cities Mission and utilization by States/Cities

Capital Market 

Utilization certificate for the 2nd instalment of the funds are submitted by the cities after utilization of a substantive amount of funds from the 1st instalment. While a number of cities have started project implementation on ground their utilization certificates are awaited. Hence, utilization certificate may not be an appropriate yardstick for assessing the progress of the Mission.

Moreover, the progress depends on the date of the selection of the After selection, it takes around 18 months in setting up Special Purpose Vehicle (SPV), procuring (PMC) firm, hiring Human Resources, preparing Detailed Project Reports (DPRs) and then call for tenders. For Cities selected in Round 1 (January 2016), where 18 months have lapsed, about 51% of the projects have either been tendered or are under implementation.

In Round 2 & 3, nearly all the cities have set up SPVs.

Since the launch of the Rs. 9,939 crores hasbeen released by to Smart Cities. Against this, 753 projects worth Rs. 24,511 crores have been completed or started work on-ground. Further, about 287 projects worth Rs. 14,296 crores are in tendering stage and the works on-ground is expected to start very soon. This is one of the fastest progress demonstrated in the urban sector considering the scale and novelty of the Mission.

Status of the implementation of the Projects under the Smart Cities Mission

Status Number of projects Cost (INR crore)Work Completed 243 4,583Work Order Issued 510 19,928Tender issued 287 14,296DPR Approved 60 3,659DPR under preparation 1,908 96,518

In addition, the Smart Cities are also generating funds by mobilizing internal revenue sources, public-private partnerships, value capture financing, convergence, etc. These additional funds are also helping the cities to meet the requirement for project financing.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, March 14 2018. 14:26 IST