Madhya Pradesh and Rajasthan have taken the lead in setting up Special Purpose Vehicles (SPV) for the implementation of smart city plans, the Ministry of Urban Development said in a statement on Saturday.
SPVs have been set up for five cities — Jabalpur, Indore and Bhopal in Madhya Pradesh and Jaipur and Udaipur in Rajasthan. The remaining 15 cities will form SPVs in the next two weeks, the statement added.
The Ministry of Urban Development will release ₹200 crore for each of the 20 selected cities only after SPVs are set up.
While Madhya Pradesh has set up a 12-member SPV for each of the three cities, Rajasthan has set up an 11-member SPV for Jaipur and a 13-member body for Udaipur. These vehicles will approve, sanction and execute the projects besides mobilising resources from various sources to ensure timely and efficient execution of plans.
The Ministry is also organising a workshop on Monday wherein 23 cities participating in the ‘Fast Track Competition’ will interact with the first batch of 20 smart city winners for peer learning about making winning proposals.