Urban projects expand, but private investment continues to remain elusive

Despite the clear pace of growth of cities in India, the ability of the city managers to track private investment is slow

Four years since the Narendra Modi government invited the private sector to invest in India’s urbanisation, a considerable amount of money — Rs 1.64 trillion — has got invested in just the Smart Cities programme. The 15th Finance Commission has awarded Rs 1.21 trillion to cities. More will come in from the 16th Finance Commission.

 

None of it has, however, emanated from the private sector. Not that the cities are not trying. 

 

Of the little that has come in, the most prominent is that of the Adani Group to redevelop the Dharavi slums in Mumbai. The bid was for Rs