India's Urban Transformation Milestone

The Smart Cities Mission, initiated by PM Narendra Modi on June 25, 2015, is approaching its 10th anniversary with significant achievements. According to a report by SBI, more than 90% of the projects under this urban development initiative have been completed, marking a pivotal moment in India's urban evolution.

Project Completion and Financial Utilization

Out of over 8,000 multi-sectoral projects planned across 100 cities, totaling Rs 1.64 lakh crore, 7,504 projects worth Rs 1.50 lakh crore have been successfully completed. Notably, 92% of the funds were utilized across 21 key states, with Uttar Pradesh, Tamil Nadu, and Maharashtra leading in expenditure.

Focus Areas and Impact

The mission primarily focused on enhancing urban mobility and strengthening water and sanitation infrastructure, channeling nearly half of the total project cost into these sectors. With over 3,000 projects implemented, the average spending per project stood at Rs 22 crore, aiming to deliver core infrastructure and improve quality of life through smart solutions.

Funding and Future Prospects

As a centrally sponsored initiative, the mission received Rs 48,000 crore from the central government over five years, with each city getting an average of Rs 100 crore annually. Additional funding was secured through various means, including government schemes and municipal bonds. With its 10-year milestone approaching, the Smart Cities Mission is recognized as a key driver in modernizing cities and addressing infrastructure gaps.