I
NDIA is set to become the most-populous coun-
try in the world by 2030. The urban areas con-
tribute nearly 60% to the country’s GDP while ac-
counting for 31.2% of the total population in
India. This contribution to GDP is expected to increase
to 75% by 2020. However, there has been an increasing
trend towards urbanization with more and more people
moving from semi-urban and rural areas to avail better
job opportunities and quality of life. The high rate of
population migration is straining the resources and
liveability condition of the major cities in India. To
manage the urbanization challenges and constraints,
India needs to find smarter ways of increasing the effi-
ciency levels, managing the complexities and improving
the quality of life.
The government launched Smart Cities Mission in
June 2015 to promote urban infrastructure develop-
ment. The objective of Smart Cities Mission is to design
and build cities that will provide core infrastructure,
better quality of life, sustainable environment and ap-
plication of ‘Smart’ solutions to the people. The first
phase of this mission involves the development of thirty-
three Smart Cities across India. These cities will fulfill
the integrated solutions based aspirations of citizens of
India. The urban planners have adopted the four-pillar
approach to developing the ecosystem - physical, social,
institutional, and economic infrastructure.By Amit Kapoor
SEARCH FOR
THE RIGHT
FINANCING
ALTERNATIVE
The success of the Smart Cities Mission will largely depend on
balancing several funding alternatives that the government has
identified to meet the financing challengeGuest Column