New Delhi : Prime Minister Narendra Modi’s pet project of building smart cities across the country is likely to draw a minimum investment of Rs 2 lakh crore, in next five years, with nearly half the amount coming in from state and local bodies.
“A minimum investment of over Rs 2 lakh crore would flow into urban areas over the next five years since states and local bodies would mobilise matching resources ranging from 50-66%,” Naidu said on Thursday. The Minister for Urban Development and Housing further said the initiative would help make the urban life confortable given the large-scale migration taking place from rural areas.
“Urbanisation is a reality and you can’t reverse it. People are migrating from rural areas because of five needs, education, entertainment, employment, economic opportunities and enhanced healthcare, which are mostly concentrated in urban areas. So we have to make urban life comfortable and liveable and useful to people…,” Naidu said.
