Smart Cities: Rs 7,940 crore will be raised for Indore project

Even as the estimated cost of transforming Indore into a 'Smart City' is Rs 5,108 crore, the city municipal corporation has drafted a plan to raise Rs 7,940 crore for the purpose, so that paucity of funds does not create hurdles in the execution of the project.

"An estimated Rs 5,108 crore is needed for raising the Smart City. But we have chalked out plans to raise Rs 7,940 crore from different resources to ensure that lack of funds does not come in the way of the ambitious project," city Mayor Malini Gaud told reporters here on the completion of her first year in the office.

Commissioner of Indore Municipal Corporation (IMC), Manish Singh, said that Centre and the state government would provide Rs 500 crore each to the city for this project.

Besides this, the Smart City project will get Rs 600 crore under Atal Mission for Rejuvenation Transformation (AMRUT), Swachh Bharat Abhiyan, and Prime Minister Housing schemes.

Indore is among 20 places of India have been picked up by the Union Government for Smart City project in the first list.