Even as the Imagine Panaji Smart City Development Limited (IPSCDL) the special purpose vehicle for transforming the capital of Goa into a smart city gets into action, questions are being raised regarding its over-riding authority.
With the first installment of Rs 108 crores under the Smart Cities Mission from the Union Ministry of Urban Development being received, the IPSCDL has accelerated the process and some the proposals have been put into the pipeline for execution.
While, the Union Ministry of Urban Development is partly financing the project, transforming the capital into a smart city will involve a total capital expenditure of Rs 1,775.12 crore over a period of five years. Of the total expenditure, Rs 534.12 crore is the smart city component, funded 50:50 by the state and the Centre. The remaining Rs 778.55 crore is through convergence – various central schemes, Rs 396.83 crore via PPP and Rs 65.62 crore in operation and maintenance (for a period of ten years). Please see box: The SMART MATH)
Chief Minister Manohar Parrikar during the budget speech informed allocation of Rs 145 crores for the development of the capital city under the scheme.
After being selected in the second round, the state government had announced the SPV for carrying out the works under the smart city project, with the vision, ‘transforming the City of Panaji into a world-class, environmentally sustainable and liveable city for all, while preserving its heritage, cultural diversity and ecosystem through innovation and smart solutions’.
The Department of Urban Development, in 2016, approved to give complete flexibility and financial autonomy to the SPV to implement and manage Smart City Projects. The notification mentioned, “The SPV has full autonomy to discharge its functions as prescribed under Articles of Association (AoA) to meet the objectives written in Memorandum of Association (MoA) including exercise of financial powers within frame work of the Companies Act, 2013.”
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