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Advantages Of A Smart City

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Urban population in India is currently around 35% of the total population. It contributes more than 60% of India’s GDP. Its contribution will increase to nearly 75% in the next 15 years. The definition of a smart city has been much discussed in India for many years, but Prime Minister Narendra Modi described it as “comparable to a developed European city”.

Smart cities are essentially urban clusters with smooth transportation, e-governance, and better social infrastructure, including healthcare and education.

Smart is not just about technology-enabled, but also about power, water, transportation, solid waste management and sewerage. While the smart city is an area of opportunity for infrastructure companies and developers, it’s a long-term …show more content…

A lot of players from foreign capital markets are looking for investment options due to slowdown of other economies and these sources need to be tapped. Make in India campaign started by the Government of India could be an attractive investment option for FIIs. The maturity and the viability of projects should be taken care of while approving loan.

The World Bank along with other financial institutions and state owned infrastructure banks could play a significant role in the financing of infrastructure projects in India. In order to attain success in the development of infrastructure facilities like sanitation, pure water and comfortable road private sector players should step in and make a key contribution because the funds required for infrastructure development is enormous.

Infrastructure development is constrained due to lack of mobilization of financial resources for infrastructure projects. There has been a slow progress in Infrastructure investment initiatives both by the public and private sector due to no clear solution to many problems which also includes land acquisition. The private sector investment enthusiasm has been missing due to problems faced in financing and financial institutions has made lending terms and conditions tough for infra projects due to increased instances of default in recovering

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