Smart cities funding need to be discussed on
Of late, there has been lot of discussions on new taxes being considered by the government for financing the development of smart cities. Some of the options being evaluated include a green tax on fuel purchase, betterment charges payable on sale of property, urban tax on purchase of new vehicles, etc.
So, it could be interesting to try and put a number to the total investment requirement for a smart city. The investment figure would vary widely depending on whether the development is green-field or on the back of an existing city. Investment in Greenfield smart cities can be significantly higher as new cities require development of “smart” urban infrastructure from scratch.
The need to comprehensively address all aspects like use of non-conventional sources for power and water, green building certifications for all constructions, recycling of waste water for non-potable uses, environment-friendly mass rapid transport, zoning including mandatory open areas, etc, could drive up new development costs significantly.
The financing of the development in the smart cities has been the only issue to be sorted out in order to carry on with the work.
Source: The Financial Express
betterment charges, environment-friendly mass rapid transport, green tax on fuel purchase, non-potable uses, Smart cities
