Rs 3,700Cr incentive for Smart City projects

In a bid to motivate the local governments to speed up the smart city projects, the Centre will give about Rs 3,700Cr as incentive to states for faster completion of the projects.

The chief secretaries of states will closely monitor the progress of smart city projects for early completion. The Centre has already selected 90 cities under the ambitious smart city scheme and approved projects worth Rs 1.91 lakh crore. The incentive amount will be about 2% of the cost of all projects.

Till now, about 79 projects worth Rs 941Cr have been completed and another 204 projects worth Rs 7,963Cr are at an advanced stage.