Smart cities to attract Rs 2 lakh crore plus investment

InvestmentA minimum investment of Rs 2 lakh crore will flow in over the next five years for development of urban areas across the country, Union Minister Venkaiah Naidu said.

The Union Cabinet has approved the government’s flagship 100 smart cities project and the new urban renewal mission with a total outlay of about Rs 1 lakh crore.

“A minimum investment of over Rs 2 lakh crore would flow into urban areas over the next five years. Nearly half the amount would come from state and local bodies,,” Naidu said .

The Minister for Urban Development and Housing further said the initiative would help make the urban life comfortable.

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