Financing of smart cities mission

♤ Financing of the mission will be collaboratively done by the Centre, state and local bodies. Fund from the private sector will be invited and Public Private Partnerships will support the project financially.

♤ The most vital contribution will be provided by the centre as it will provide Rs. 48,000 crores

over five years i.e. on an average Rs. 100 crore per city per year. Matching the center’s contribution, an equal amount will be made by the State/ULBs. Altogether nearly one lakh crore rupees from government sources will be available for Smart Cities Project. For the implementation of the project each city should form a dedicated Special Purpose Vehicle (SPV).