Urban Transformation in India's Cities: A Key Factor in Economic Growth
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In the pursuit of becoming a developed economy by 2047, India's cities play a pivotal role, serving as engines of economic growth and innovation hubs. This vision is backed by the government's urban agenda, which places cities at the forefront of India's development, emphasising their role as centres of innovation, trade, and cultural exchange.
The Smart Cities Mission, a key government initiative, is at the heart of this urban transformation. This mission aims to create efficient, inclusive, and sustainable cities by transforming selected urban areas into modern, sustainable, and technologically advanced urban centres. The Pradhan Mantri Awas Yojana (PMAY), another government initiative, focuses on promoting affordable housing to meet the growing demand in India's urbanisation.
However, the journey towards urban transformation is not without challenges. The strain on existing infrastructure, including transportation, water supply, sanitation, and waste management, is a significant hurdle. Environmental degradation, climate change, and geological hazards also pose threats to overall development. Meeting the demand for quality and affordable housing is another challenge that needs to be addressed.
To mitigate these challenges, a futuristic vision is essential. Collaborative efforts and proactive policy implementation can lead to unique perspectives on resource allocation in real estate assets through the adoption of the latest technologies and innovations. Modern infrastructure and sustainable urban planning can make cities more resilient and future-ready.
Urban renewal projects and initiatives to improve urban governance and planning are also being implemented by the government. By prioritising sustainable development, inclusive growth, and innovative solutions, India aims to emerge as a beacon of urban transformation.
The third term of the Hon'ble Prime Minister presents an opportunity to craft a new narrative of growth focused on proactive policies, robust execution, holistic development, and prosperity for 'Viksit Bharat'. The Government is investing in these areas to enhance the quality of life for urban residents and boost economic growth.
The Smart Cities Mission involves a wide range of projects, including improvements in infrastructure, transportation, healthcare, education, and technology. Policies around affordable housing and incentives for developers and buyers are essential for maintaining a healthy demand-supply equilibrium.
This article was written by Anshuman Magazine, Chairman of CII National Committee on Urban Development and Housing and Chairman & CEO - India, South-East Asia, Middle East & Africa, CBRE, and published in Policy Watch October 2024, Vol 11, Issue 5. The search results do not provide a specific list of cities selected under the Smart Cities Mission by the government to be transformed into modern, sustainable, and technologically advanced urban centers. However, it is clear that India's commitment to urban transformation is unwavering, and the future holds great promise for the nation's cities.
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