In a boost to infrastructure development in cities, the total outlay for the Urban Rejuvenation Mission, which includes projects under AMRUT and Smart Cities Mission, will be ₹12,169 crore, according to the budget proposals for 2018-2019.
The Smart Cities Mission, which received ₹4,000 crore budgetary allocation in 2017-2018 and ₹4412 crore the previous year, will get ₹6,169 crore in 2018-2019, including ₹169 crore towards capacity building for urban development. This will be used to develop 100 smart cities.
Under the Atal Mission for Rejuvenation and Urban Transformation (AMRUT), the allocation proposed is ₹6,000 crore. This will be towards the Urban Rejuvenation Mission of 500 cities. The budgetary allocation for AMRUT schemes in 2017-2018 was close to ₹5,000 crore.
According to a press release, 99 cities have been selected under the Smart Cities Mission with an outlay of ₹2.04 lakh crore, projects worth ₹2350 crore have been completed, and work for ₹20,852 crore is under progress. Under the AMRUT programme, the State-level plans of ₹77,640 crore for 500 cities have been approved. As many as 482 cities have credit rating and 144 cities have got investment grade rating. Water supply contracts for 494 projects worth ₹19,428 crore have been approved for 500 cities and sewage work contract for 272 projects for ₹12,429 crore have been awarded.
Jaxay Shah, national president of the Confederation of Real Estate Developers’ Associations of India, says the public investment in infrastructure in rural areas, smart cities, agricultural marketing and urban connectivity will multiply investment prospects for the real estate sector.
According to Anuj Puri, chairman of ANAROCK Property Consultants, the total allocation of ₹5.97 lakh crore towards infrastructure spending will ensure that the country’s infrastructure meets global standards.
