SPVs for Smart Cities

Speaking about Centre's ambitious project to rejuvenate cities, the UD minister said that the first set of special purpose vehicles (SPVs) for 20 smart cities could be ready by December end. The Centre has set for itself the task of developing 100 smart cities so that they can serve as beacons for other towns and cities to follow. While the Centre would provide Rs.5,00cr, each city may require anywhere between Rs.10,000cr and Rs.20,000cr to transform itself into smart city. It will take some time but the process has started, the minister added.