Urban infra gets Rs. 2.72 lakh-cr booster

In the largest ever urban infra push, the Indian cities have geared up for resource mobilization through credit rating; 87 smart cities being credit rated and 482 cities set to become open air-toilet-free with matching drainage system entailing an investment of Rs. 2,72,380cr. Under the initiative, over 9 lakh houses approved for urban poor in just one year; about 3 lakh houses have been built so far. As a matter of fact, the ease of doing business in urban areas improved in 2016, which marks a good beginning in implementation of new urban missions, Urban Development Minister M.Venkaiah Naidu said, adding that the first year of execution is encouraging the momentum to launch a new major urban sector missions, brisk execution of urban infrastructure projects, approval of smart city plans for 60 cities, credit rating of cities for resource mobilization through municipal bonds, Swachh Bharat Mission picking up across urban areas. Similarly, the enactment of Real Estate Act and notification of Real Estate Rules, large scale approval of construction of affordable houses for urban poor and massive investment approval in urban areas, modification of Building Bye-laws and simplification of approvals for building plans and construction permits made the year 2016 a new landmark in urban development, he claimed.