Budget 2020: FM proposes 5 new Smart Cities Under the SCM, 100 Smart Cities have been selected in four rounds based on an all India competition. All 100 cities have incorporated Special Purpose Vehicles (SPVs)
In her Budget speech, Finance Minister Nirmala Sitharaman has proposed the setting up five new Smart Cities. The speech did not make any mention of the Budgetary allocation.
The government in 2019 had allocated Rs 6,450 crore for the Smart Cities Mission for 2019-2020 against Rs 6,169 crore in 2018-2019, which is about 4.5 percent more than the amount set aside last year.
The government in 2018 had proposed over 50 percent increase in the allocation for smart cities in Budget 2018 from Rs 4,000 crore for 2017-2018 to Rs 6,169 crore for 2018-2019.
Under the SCM, 100 Smart Cities have been selected in four rounds based on an all India competition. All 100 cities have incorporated Special Purpose Vehicles (SPVs).
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Finance minister Nirmala Sitharaman is set to present her second Union Budget, which contains the details about the government’s revenue and expenditure for fiscal year 2020-21, on Saturday. However, contrary to the popular belief, Nirmala Sitharaman is not the first Finance Minister of India. It was former Prime Minister Indira Gandhi, who presented the budget in 1970-71.
The PM Narendra Modi government has decided to invest more than Rs 100 lakh crore on building modern infrastructure in the country with a special emphasis on connectivity, President Ram Nath Kovind said in Parliament. In a bid to improve connectivity, the government will also focus on creation of new highways, waterways, airways and I-ways (IT infrastructure), he said addressing the joint sitting of both houses of Parliament, on the first day of the Budget session here. "The poor and the middle-class hope and aspire for a modern 21st century infrastructure in the country. To fulfil this aspiration of the people more than Rs 100 lakh crore will be invested in the next five years. With a special emphasis on connectivity, the government is also focusing on creation of new highways, new waterways, new airways, and new I-ways," the President said.
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