India, June 10 -- The Government of India issued the following news release:
Launched in 2015, the Smart Cities Mission (SCM) marked a significant shift in urban development strategy by promoting city-level innovation and integrated infrastructure delivery. A distinctive feature of the Mission was the establishment of Special Purpose Vehicles (SPVs) in all 100 selected cities under the Companies Act, 2013, with a 50:50 equity share holding between State/UT governments/administration and respective Urban Local Bodies (ULBs) as promoters. These SPVs were mandated to implement the mission through focused planning, project development, and on-ground execution.
Hon'ble Minister Housing and Urban Affairs chairing a review meeting attended by St...