SPV for each smart city: Venkaiah Naidu.
A Special Purpose Vehicle (SPV) will be created for each smart city, Urban Development Minister M. Venkaiah Naidu has said.
Infrastructure deficit will be bridged by retrofitting of identified areas of a city and redevelopment of areas which are not amenable to retrofitting to enable such areas conform to the norms of smart city, according to a statement from the Ministry.
Pan-city schemes such as efficient public transport systems including ring roads, e-governance initiatives etc. will also be undertaken under brownfield development, he said, adding that ICT solutions would play an important role in improving urban governance and enhancing the efficiency of resource use.
Business Line – published on March 24, 2015