Financing smart cities in India
- 2016
- p.791-804.
- Oct-Dec
Smart cities that have been identified in India are big and different from other cities partially due to the size and high density of population which are relatively heterogeneous in terms of social and economic circumstances. Most of these cities are regional/national hubs for knowledge or pilgrimage and/or economic activities. Hence, fiscal capacities of these cities are greater than those of other cities. But these capacities of either the municipal or the state governments are limited to generate additional resources that are needed for urban renewal or investment in modern infrastructure at international standards. The article attempts to summarise the policy objectives and developments in the identifications of smart cities in India and review the conventional sources of revenue of city administration, i.e. tax and non-tax revenues and intergovernmental transfers including those of Union and state finance commissions. The article also explores avenues of non-conventional sources of financing for urban infrastructures and improvements in the participatory management capacities of the city administration which is critical to add value to residents in terms of participation in decision making and quality services on sustainable basis. - Reproduced.
Urban finance - India Urban development - India Urban development