PRIME MINISTER MR. MODI TODAY LAUNCH 3 URBAN PROJECTS WORTH RS 4 LAKH CRORE

Posted On: 2015-06-27 04:53:17


Prime Minister Narendra Modi will launch three mega flagship schemes aimed at transforming urban India, including the much talked about Smart Cities proposal, with a whopping Rs 4 lakh crore earmarked for them.

The PM will release implementation guidelines for three projects

- 100 Smart Cities,

----500 AMRUT Cities (Atal Mission for Rejuvenation and Urban Transformation); and

----Housing-for-all by 2022 in urban areas.

Mr. Modi will also unveil the logo of the housing mission, which is said to have been designed by his inputs.

The operational guidelines for each of the three projects, which lay the ground rules and framework for implementation, were formulated after extensive, almost year-long consultations with states, Union territories and urban local bodies.

Mr. Modi has been involved in the formulation of the three mega urban initiatives involving a central grant of about Rs 4 lakh crore. Sources said the Prime Minister was given regular presentations by the urban development and housing and urban poverty alleviation ministries.

While the Smart City and AMRUT projects will draw Rs.48,000 crore and Rs.50,000 crore respectively, in central grants over five years, Housing-for-all by 2022 will see the government spend about Rs.3 lakh crore in the next seven years, which aims to construct 2 crore affordable houses in urban areas for slum dwellers and people from economically-weaker sections and low income groups.

Under the housing scheme, interest subsidy of 6.5 per cent on housing loans with tenure up to 15 years will be provided to EWS and low income groups, giving them a benefit of about Rs 2.3 lakh each. 

Source : PRIME MINISTER MR. MODI TODAY LAUNCH 3 URBAN PROJECTS WORTH RS 4 LAKH CRORE